JOIN USApple Store to adorn Indian cities soon, thanks to Modi
For the past several years, technology behemoth Apple has been in talks with the central government for relaxation on local sourcing policy in order to set up single-brand retail stores in India and looks like, it's finally happening soon.
Narendra Modi-led government, earlier in the week, in a bid to reverse the slowing economy, diluted stringent FDI (Foreign Direct Investment) policy to increase the inflow of investments from MNCs (Multi-National Company) in the country.
Previously, FDI norms required companies like Apple compulsorily have 30 percent domestic sourcing, to set up single-branded retail stores and to get permission to sell refurbished iPhones in India. Now, with the relaxation of FDI norms, the company will soon set the ball rolling to bring Apple Stores in India.
"We love our customers in India and we’re eager to serve them online and in-store with the same experience and care that Apple customers around the world enjoy. We appreciate the support and hard work by Prime Minister Modi and his team to make this possible and we look forward to one day welcoming customers to India’s first Apple retail store. It will take us some time to get our plans underway and we’ll have more to announce at a future date,” Apple said to DH.
Reports are emerging that the Cupertino-based company would first begin with the setting up the online shop and then scout for places in the big metros such as Delhi, Mumbai and Bengaluru for brick-and-mortar Apple Store.
Some of the current Apple Stores in global regions have reached iconic status in their respective cities. Some include 5th Avenue store in the New York City, Apple Xinyi A13 in Taipei’s Xinyi district, Apple Store Regent Street (London), Apple Store Orchard Road (Singapore) and others.
Besides the visually appealing architecture, another notable aspect of Apple Store is that the company hosts special tutorials for customers such as Skills, Walks, and Labs — which offer hands-on group sessions focused on photography, video, music, coding, app development, art and design and more. Some select sessions are free at every Apple Store worldwide and allow visitors to find the right session for their interests and skill level in order to know their Apple devices more.
As of now, Apple in collaboration with supply chain partner Wistron Corp is assembling iPhone 7 series in Bengaluru, and recent reports have indicated that the company in association with Foxconn may soon start production of top-end models such as iPhone X, XS and XR series in the latter's Chennai unit by the end of 2019.
If it does turn true, Apple need not have to pay customs duty for the aforementioned iPhone models to sell in India and will pass on the benefits to the domestic customers.
Currently, Indian consumers have to shell out close to Rs 20,000 more for 2018-series iPhone models compared to the US or other international markets. This is one of the primary reasons for Apple not been able to attract buyers.
Now, going by the recent developments, Apple's fortunes are set to change for good in India.
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