In a huge blow to its expansion plans in India, the government has rejected Apple’s plea of exempting the 30% local sourcing norm to open retail stores in the country. Finance Minister Arun Jaitley decided to support the decision by India’s Foreign Investment Promotion Board regarding the 30% of local sourcing.
A government panel headed by Secretary of Department of Industrial Policy and Promotion (DIPP) headed by Ramesh Abhishek has recommended exempting iPhone and iPad maker Apple from mandatory local sourcing norms. Continue reading “DIPP panel recommends to exempt Apple from 30% sourcing condition for retail stores”
Xiaomi is the latest international smartphone maker which is looking forward to open it’s retail stores in India. The Chinese smartphone maker has sent an application with the Department of Industrial Policy and Promotion (DIPP) to open single brand retail stores in the country, according to a latest report from PTI.
Continue reading “Xiaomi applies for single brand retail stores, Apple resubmits its proposal”
