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 was quoted by PTI as saying.
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. 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, it sells it’s products through e-commerce and offline platforms.
Apple had filed proposal seeking permission for single-brand retailing and sell products online in January
Must Read
