Apple seeks DIPP nod to open its own stores in India

Apple is trying to get a government nod to open its Apple Stores in India. Apple Stores around the world are known for their ambience and unmatched customer experience. Apple has approached the DIPP or (Department of Industrial Policy and Promotion) in order to gain entry to set up its Apple Stores in India.The Economic Times has reported about Apple ongoing efforts to set up its own stores.

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Confirming the development, DIPP Secretary Amitabh Kant said, "We have just received Apple's proposal. We are examining it."Apple has not specified on how much it will invest on the Apple Store in the DIPP application. The new move comes from Apple after the government liberalised and relaxed FDI norms in Single-brand retail in November last year. This includes relaxing local procurement conditions for conglomerates and allowing single brands retailers to sell their products online directly.

Apple seeks DIPP nod to open its own stores in India

Apple now sells its products in India through franchisees and local distributors. Apple does not sell directly in India. According to the older rules on FDI, companies opting for more than 51% FDI in single brand must source 30% of their products within the country.

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Apple has realised its potential in the Indian market and hence has shown interest in opening Apple Stores in the India where Apple is finding a sizable share of the market from its global sales figures.


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