Apple Seeks DIPP Permission to Open Stores in India
Apple India in an application to the Department of Industrial Policy of Promotion has asked for the governmental permission for opening their stores in major cities across the country. DIPP Secretary Amitabh Kant said that the department has just received the proposal and is examining it. However, there are no details of how much the globally acclaimed iPhone makers are willing to invest in the country. According to the sources, the company has also sought the governmental nod to sell its products online.
The US tech giant had earlier sought reduction of the sourcing norm to set up its outlets in the country. But this was before the FDI norms relaxation in November. Prior to that, the policy mandated that companies opting for more than 51% in FDI in single brand must source 30% of their products within the country. Also such retailers couldn’t set up e-commerce portals with foreign investments.
The company which sells its gadgets via various franchisee store in the country, has been increasing its focus on India in the recent times. Its sales have crossed the $ 1 billion mark for the first time in the end of March 2015.