iPhone and iPad maker Apple has resubmitted its application for opening single-brand retail stores in the country as there were certain gaps in its earlier proposal. “The proposal is being processed by the Department of Industrial Policy and Promotion (DIPP). Chinese smartphone maker Xiaomi too has submitted an application,” an official said.
In January, Apple had filed proposal seeking permission for single-brand retailing and sell products online but due to certain gaps in the application, DIPP had sought more information from the US-based technology giant.
According to the sources, the government could exempt the Cupertino-based company from the mandatory local sourcing norm of 30 per cent as it makes ‘state-of-the-art’ and ‘cutting edge’ technology products.
Last year, the government had relaxed the foreign direct investment (FDI) policy for single-brand retailing.
- Here’s Why Delhi-NCR Gets Pollution Code On Lines Of Beijing
- PM Modi Is More Interested In TRP Politics Rahul Gandhi At Congress Parliamentary Meet
- Bigg Boss 10 December 1 Review: Priyanka Jagga Succeeds In Her Divide And Rule Strategy
- Kahaani 2 Audience Reaction: Vidya Balan Starrer Thriller Gets Mixed Reviews
- Find Out What PM Modi Said About Demonetisation On LinkedIn
- Row Over West Bengal ”Military Coup” Issue Escalates: Who Said What
- Here’s How Mohammad Kaif Replied To Virender Sehwag’s Birthday Wish On Twitter
- West Bengal CM Mamata Banerjee’s Flight Reportedly Had Low Fuel: Here’s What Happened
- Reliance Jio Welcome Offer Extended Till March 31, JioMoney Launched
- Uri Attackers Came From Pakistan, Establishes Digital Data
- Bigg Boss 10 Nov 30 Episode Review: Captaincy Brings Differences In Manoj Punjabi & Manveer Gurjar
- Congress Vice President Rahul Gandhi’s Official Twitter Handle Hacked
- After Rahul Gandhi’s Twitter Handle, Congress Official Twitter Account Hacked
- 3 Dead As Army Helicopter Crashes In Sukna In West Bengal
- BJP, Congress Engage In War Of Words Over Nagrota Attack: Find Out More
The government had said it may also relax the sourcing norms for entities undertaking single-brand retailing of products having ‘state-of-the-art’ and ‘cutting edge’ technology and where local sourcing is not possible.
Further, sources said Xiaomi too has submitted an application with the DIPP to open single-brand retail stores in the country. Currently, they sells their products through e-commerce and offline platforms. Single-brand retailers are also allowed to take e-commerce route for such trading.
At present, 100 per cent FDI is permitted in the sector but the companies are required to take FIPB permission if the limit exceeds 49 per cent.
The company sells its products through Apple-owned retail stores in countries including China, Germany, the US, the UK and France. Apple has no wholly-owned store in India and sells products through distributors such as Redington and Ingram Micro.