Published: Wed, September 04, 2019
Electronics | By Kelly Massey

Apple Can Now Start Online Sales & Stores In India

Apple Can Now Start Online Sales & Stores In India

Soon enough, Apple may be able to sell its products from an online store in India.

Eager to see customers at its first India retail store, Apple on Thursday declared India its next growth hub - first by launching an exclusive online store and then its branded retail outlet later - as the Narendra Modi cabinet eased the 30 per cent local sourcing norm in single-brand retail (SBRT). Apple's products are now available via third party sellers only. Now the government says it is broadening the definition to include both materials sold in India and those exported in the local sourcing law. Keep a close eye on this relationship in the future.

The new rules also mean that in the near term India could be home to Apple's iconic physical stores, which are immensely popular in the West, and where consumers also often end up exploring its other product and services portfolio. "An Apple store is like a Taj Mahal and once it opens, that country has arrived on the company's global map", brand expert Harish Bijoor said.

The new mining investment policy will to open up investment avenues for companies like PeaBody, Glencore and BHP Group Ltd. Earlier, it wasn't possible for Apple to sell its products in India because of foreign investment rules that required foreign companies to source 30% of production locally. But the move is unlikely to materialize before next year, the person said, requesting anonymity.

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"Further, the current cap of considering exports for 5 years only is proposed to be removed, to give an impetus to exports", he added. It has been reported before that the California-based company has been upset with the platforms for their sharp discounts, that increases their Gross Merchandise Value metrics but degrade the iPhone's image.

To boost sales, several iPhone models have been assembled locally. For Apple, these new reforms will make doing business in India easier and more lucrative than ever, helping it to catch up with Chinese smartphone manufacturers, such as Xiaomi, which have benefitted from aggressive uncontested marketing in India.

As part of today's announcement, the government is now also allowing foreign investment in digital media to take up to 26% stakes in companies - a figure that now stands at 100% for the coal mining industry and associated infrastructure and sales of fuel.

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