Apple seeks DIPP nod to open single brand stores, e-commerce

By: GizBot Bureau

    Apple, the maker of iPad and iPhone, has sought permission from the government to open single brand retail stores and also enter the e-commerce business in the country. In this context, Apple India Pvt Ltd has sent an application to the Department of Industrial Policy and Promotion (DIPP).

    Apple seeks DIPP nod to open single brand stores, e-commerce

    The DIPP is expected to seek some more information about the proposal, sources said. "The company has sought permission for single brand retailing and sell its product online also," they said adding Apple has not mentioned the amount of investment and number of stores it wants to open.

    SEE ALSO: Apple Watch 2 Launch Delayed: Is It Worth Waiting?

    However, an e-mail query sent to Apple remained unanswered. The development comes after the government relaxed the foreign direct investment (FDI) policy for single brand retailing.

    The government may also relax 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. 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 beyond 49 per cent, permission of Foreign Investment Promotion Board (FIPB) is required.

    SEE ALSO: Motorola Confirms Moto X Force Launch In India: Top 10 Features Of The Smartphone

    The company sells its products through Apple-owned retail stores in countries including China, Germany, the US, the UK and France. It has no wholly-owned store in India and sells its products through distributors such as Redington and Ingram Micro.

    Source PTI

    Read More About: apple iPhone ipad ecommerce online news
    X

    Stay updated with latest technology news & gadget reviews - Gizbot

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Gizbot sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Gizbot website. However, you can change your cookie settings at any time. Learn more