The Apple online store for India will go live on September 23.
At least 15 brokerages raised their price targets on Apple'’s stock after the record breaking quarterly earnings.
Apple registered double digit growth in India particularly with strong iPhone sales, and is a critical market for iPad and Mac. Sign of the times ahead?
Despite the enthusiasm around the relaxed foreign direct investment norms for single-brand retail, Apple will likely focus on exports and unique store experiences in future.
In one of the key rulings of the new foreign direct investment norms, the 30 percent local sourcing norm has been pegged for review every five years, going forward.
Some approvals are pending, but the India-made iPhone XR and XS devices are expected to hit the market by August.
According to Foxconn, the move will get the company "more deeply involved" with the development and operations of the Indian smartphone industry.
A Chinese court has also issued a preliminary injunction banning some Apple phones, part of a legal battle with chip maker Qualcomm Inc . This ban, potentially hitting iPhone models from the 6S through the X, has yet to be enforced.