Finally, Apple Stores could come to India. Apple has filed an application with the Department of Industrial Policy and Promotion (DIPP) to set up stores both offline and online in India. Also Read - Twitter hits 211 mn daily users, defies Apple privacy changesAlso Read - Apple Watch Series 8 to bring infrared blood glucose sensor, suggests report
DIPP secretary Amitabh Kant confirmed the application filing. We have just received Apple’s proposal. We are examining it,” he told ToI. The application comes after the government relaxed FDI (Foreign Direct Investment) in single-brand retail back in November. The liberalization of FDI in single-brand retail not only relaxes the 30 percent domestic sourcing rule, but also lets companies sell their products through retail, wholesale or e-commerce route. Also Read - Apple delays MacBook Pro, AirPods 3rd gen shipments to October 29, but why?
Prior to the relaxing of FDI policy, Apple had to sell its products through a network of authorized Apple Premium Resellers. It was also reported to be setting up dedicated sections at Croma s retail stores.
Apple s plans for a retail presence though have been in the open for the past couple of years. The company has long been lobbying for the relaxation of FDI in single-brand retail, which would allow it to set up its own stores.
BGR India had also exclusively reported about Apple s plans to set up stores to sell iPhones and iPads in the country. Subsequent reports have since claimed that Apple plans on setting up as many as 500 such stores across the country.
India has proved to be an important market for Apple, and recently its revenues in the country crossed the $1 billion mark for the first time ever. The importance of India was highlighted during Apple s Q3, 2015 earnings call when CEO Tim Cook revealed how India had raced ahead of Greater China for the first time. [In] India we grew at 93 percent and this is on top of the Greater China numbers that we ve already covered that grew 87 percent during the quarter against a market of 5 percent, Cook said. And so we did exceptionally well I think in any way that you look at it.