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Apple needs to apply afresh for single brand retail
Posted On: 09-02-2016 04:49:47 AM

As per a report in Economic Times:

Apple, the maker of iPad and iPhone devices, will have to submit a fresh application for opening single brand retail stores in the country, as certain gaps have been found in the initial proposal. Last month, the company had filed its proposal seeking permission for single brand retailing and selling its products online but had not mentioned the amount of investment and number of stores it wants to open.

As per sources quoted in the paper, the Commerce and Industry Ministry could exempt the company from local sourcing norms as the US-based giant makes 'state-of-the-art' and 'cutting edge' technology products. The government had last year relaxed the foreign direct investment (FDI) policy for single brand retailing. As part of this move the government had said that 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.

Apple currently has no wholly-owned store in India and sells its products through distributors such as Redington and Ingram Micro.

 
 
 

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