{"id":1443,"date":"2016-06-20T02:14:00","date_gmt":"2016-06-20T02:14:00","guid":{"rendered":"https:\/\/www.thirdeyesight.in\/?p=1443"},"modified":"2022-09-01T02:22:22","modified_gmt":"2022-09-01T02:22:22","slug":"apple-closer-to-india-stores-after-government-eases-curbs","status":"publish","type":"post","link":"https:\/\/myechoproject.com\/TES\/apple-closer-to-india-stores-after-government-eases-curbs\/","title":{"rendered":"Apple Closer to India Stores After Government Eases Curbs"},"content":{"rendered":"\n<p> <i>Saritha Rai, Bloomberg<br>\nBengaluru, 20 June 2016<\/i><\/p>\n<div class=\"row\">\n<div class=\"col-sm-4\">\n<p class=\"mt-3\"><img decoding=\"async\" class=\"img-fluid d-block lazyload\" data-src=\"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/apple-store.jpg\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\"><\/p><\/div>\n<div class=\"col-sm-8\">\n<p class=\"mt-3\">Apple Inc. may be closer to opening stores in India after the government eased onerous local sourcing requirements on retailers.<\/p>\n<p class=\"mt-3\">The\nworld&#8217;s second-most populous country on Monday announced the easing as\npart of a raft of measures intended to boost foreign direct investment\nand expand the leeway afforded multinational corporations. It loosened\npolicies that require retailers to source at least 30 percent of their\ncomponents locally before they can set up shop.<\/p><\/div><\/div>\n<p class=\"mt-3\">Apple is pushing\nto increase its share of the world&#8217;s fastest-growing major smartphone\nmarket as device sales slow elsewhere. Chief Executive Officer Tim Cook\nvisited the country for the first time in May and met with Prime\nMinister Narendra Modi to outline his ambitions for the burgeoning\narena.<\/p>\n<p class=\"mt-3\">Under the new regime unveiled Monday, single-brand\nretailers have a three-year grace period in which they can operate\nstores, before they have to comply with the local sourcing requirement.\nCompanies that can show they are selling state of the art or cutting\nedge technology can benefit from a relaxed local sourcing regime for\n&#8220;another five years.&#8221;<\/p>\n<p class=\"mt-3\">The government hasn&#8217;t ruled on whether\nApple meets the cutting edge criteria. Apple didn&#8217;t respond to an\ne-mail seeking comment on the government&#8217;s decision.<\/p>\n<p class=\"mt-3\">Apple will\nnow have to apply anew for permission to open its first stores in\nIndia, Commerce Minister Nirmala Sitharaman told reporters Monday. The\nCupertino, California-based company has used flagship stores in New\nYork, Tokyo and Shanghai to promote its products and boost sales, but\nin India it sells through partners such as Redington India Ltd. as well\nas the retail units of Indian conglomerates Tata Group and Reliance\nIndustries Ltd.<\/p>\n<p class=\"mt-3\"><span style=\"font-weight: bold;\">&#8220;The relaxed\nrules give Apple a window to build up a credible brand and gives the\ncompany a chance to build up internal capability and familiarity with\nthe supply base,&#8221; said Devangshu Dutta, chief executive officer of\nThird Eyesight. &#8220;For branding, a certain consistency is critical and\nthis can be done by having retail control.&#8221;<\/span><\/p>\n<p class=\"mt-3\" style=\"font-weight:bold\">India\nis a challenging market because of the iPhone&#8217;s premium pricing. It now\nhas less than 2 percent of an Indian market in which four-fifths of\nphones cost less than $150. The iPhone maker had sought permission to\nbecome the first company allowed to import and sell cheaper refurbished\nphones into the country, but was said to have been rejected.<\/p>\n<p class=\"mt-3\">Still,\nApple&#8217;s sales there jumped 56 percent in the March quarter, indicating\nthat demand for the brand is growing. Cook called out the country&#8217;s\n&#8220;incredibly exciting&#8221; prospects during his last earnings conference and\nsaid his company will devote more energy to that market. Apple&#8217;s stores\nhave always played a key-role in attempts a convey a unique image and\nfeel for its products.<\/p>\n<p class=\"mt-3\">&#8220;It gives Apple more branding and\npositioning strength. Having a direct presence will help it gain more\nmindshare,&#8221; said Vishal Tripathi, an analyst at research firm Gartner.\n&#8220;It can help create a well-fashioned brand in the Indian market.&#8221;<\/p><p><span style=\"font-style: italic;\"><\/span><i>(Published in <a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-06-20\/apple-closer-to-india-stores-after-government-eases-retail-curbs\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: bold;\">Bloomberg<\/span><\/a>)<\/i>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saritha Rai, Bloomberg Bengaluru, 20 June 2016 Apple Inc. may be closer to opening stores in India after the government eased onerous local sourcing requirements on retailers. The world&#8217;s second-most populous country on Monday announced the easing as part of a raft of measures intended to boost foreign direct investment and expand the leeway afforded [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-1443","post","type-post","status-publish","format-standard","hentry","category-press-quotes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Apple Closer to India Stores After Government Eases Curbs - Third Eyesight<\/title>\n<meta name=\"robots\" content=\"index,follow\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myechoproject.com\/TES\/apple-closer-to-india-stores-after-government-eases-curbs\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple Closer to India Stores After Government Eases Curbs - Third Eyesight\" \/>\n<meta property=\"og:description\" content=\"Saritha Rai, Bloomberg Bengaluru, 20 June 2016 Apple Inc. may be closer to opening stores in India after the government eased onerous local sourcing requirements on retailers. 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