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Regular-article-logo Monday, 23 December 2024

Apple firms up India plans after rule tweak

The iPhone maker has not given a timeframe for setting up its stores in India

Our Special Correspondent New Delhi Published 29.08.19, 07:28 PM
At present, Apple and some other firms sell in the Indian market through franchise-owned retail stores, apart from e-commerce channels such as Flipkart and Amazon.

At present, Apple and some other firms sell in the Indian market through franchise-owned retail stores, apart from e-commerce channels such as Flipkart and Amazon. (Shutterstock)

A day after the Narendra Modi-government eased FDI sourcing norms in single-brand retail, US tech giant Apple on Thursday said it was keen to open online and retail stores in India soon.

Cupertino-based Apple in a statement said, “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.”

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However, the iPhone maker has not given a timeframe to set up its stores in India.

“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,” Apple said.

Industry sources indicated that the online store could be launched first followed by the retail outlets.

At present, Apple and some other firms sell in the Indian market through franchise-owned retail stores, apart from e-commerce channels such as Flipkart and Amazon.

Apple’s stores are a landmark everywhere in the 25 countries where they have been established, with special focus on the design and architecture. In India, the first store is expected to come up in Mumbai.

Some models of iPhones are made in India by Apple’s contract manufacturing partner Wistron Corp.

Industry body India Cellular and Electronics Association (ICEA) has said the relaxation in FDI norms for single-brand retail is expected to raise the domestic mobile handset retailing market to global standards as it paves the way for brands such as Apple, OnePlus and Oppo to set up their directly owned stores in the country.

Recently, Apple had said that the Indian market “bounced back” in the June quarter as the company logged strong double-digit growth in the country.

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