Apple Stores Coming to India

Apple is doing some serious discussions with higher authorities in India to set up their official retail stores without initially having to source components locally. This will be a crucial decision to take by the Indian Government. Hence, a long meeting was held between the Secretary of Department of Industrial Policy (DIPP) Mr. Ramesh Abhishek and some senior officials from Apple Inc. The meeting was held mainly to discuss the Foreign Direct Investment (FDI)rules in single brand retail and the expansion policy.

Anyways Apple is pretty clear on the changes in mandatory domestic sourcing norms for single-brand retails which was incorporated earlier this year. According to the Indian Government, there has been a relaxation in the FDI norms by giving three-year exemption from local sourcing to a foreign single brand retailer and a five-year exemption for the “state of the art” and “cutting edge” technology.

Well, I am sure Apple has got a strong hold in the Indian smartphone market (which is seen as an Android market btw). Apple iPhone’s sales in India had gone up 51 percent year on year. That in itself is a very good indication that Indian population is pretty much willing to spend money on Apple products.

This also leaves us with a small piece of information that the CEO of Apple Inc, Mr. Tim Cook had made a visit to India to meet Prime Minister Narendra Modi and several other senior officials. The major intention of the visit was directed towards setting up a manufacturing and retail store in India. Not only that, Apple have also announced setting up a design and development accelerator to support Indian developers in creating innovative applications for IOS. To accelerate the map development, a new Apple office has also been opened in Hyderabad.

Apple is very much vocal about its expansion plans for India. With China having slowed down a bit, India is turning out to be the hub for Apple.

Here’s hoping that Apple open their retail stores in India. It only means more authentic products, better customer service and hopefully, cheaper products. (Enough of waiting for months to get an over priced Apple product in India!)

MK India Reading

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Mani Karthik

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