Apple Exempted from Local Sourcing Laws Under ‘State of Art Tech’, Exclusive Stores to be Opened Soon
Apple was frantically trying to get the nod from the officials for its exclusive retail stores in India thus eventually circumventing the 30% local sourcing condition. After a panel recently recommended that Apple should be exempted from the local outsourcing law the appeal was waiting for a final nod from the Finance Ministry.
It seems that Apple has finally received the nod from the authorities and would soon be setting up the Apple Stores in three cities across India including Delhi, Bangalore and Mumbai in the next year and a half. The company would also be setting up an accelerator in India to fuel the start up growth.
— Shereen Bhan (@ShereenBhan) May 17, 2016
Apple has been striving to increase its paltry 2% market share in India and as a result had also proposed plans to sell refurbished iPhones, which was later on squashed by the authorities. Apple has also offered exciting leasing offers for corporate users, all in a bid to bring in first time iPhone users on board.
As FactorDaily reported, each of the Apple Store is expected to be spread across 10,000 Sq feet and will be located at prime locations in the three cities. Currently, Apple has been selling its wares through retailers like Redington India and Micro Ingram but with the exclusive stores on the horizon it is quite possible that these distributors will be hit hard. Exclusive Apple stores have been known for their exceptional customer care and the way they handle the issues is something that has been lauded.
Apple has been exempted under the ‘state of art tech’ norm thus allowing them to setup exclusive stores in India. With all the efforts that is going in it is just a matter of time Apple sales climb the charts in India and we also expect a slew of new initiatives from the Cupertino company to help first time Apple users hop on to the bandwagon.