Apple India has filed an application with the country's department of industrial policy and promotion (DIPP) to open its own retail stores, according to India Times. The company is also seeking to sell its products online in India.
DIPP Secretary Amitabh Kant confirmed the application to India Times, saying they have "just received Apple's proposal" and that they are "examining it." Apple's application did not indicate how much investment it would make in opening retail stores in the country. The move comes shortly after India loosened rules involving foreign companies investing in single-brand retail and online stores.
Previously, Apple had set up a network of stores to sell its products through, including carrier stores. Last July, the Cupertino company debuted a new initiative called the Authorized Mobility Resellers program, which planned for 500 retail store affiliates in 12 cities across India. Customers in India could also not purchase Apple products through the company's website, instead getting redirected to carrier stores and resellers they could purchase their devices.
Along with China, India is becoming increasingly important to Apple's business. In July, the company noted that growth in India was over 90 percent. India Times notes that Apple's sales in the country topped $1 billion for the first time in the fiscal year ending March 2015. Additionally, in September Tim Cook told Indian Prime Minister Narendra Modi that Apple was interested in expanding its manufacturing base to the country.
Top Rated Comments
Most people fail to grasp the concept of Asia, because I hear the same arguments about China.
Truth is, those average figures are based on the whole country. Not the major cities. If you look at the per capita income of major cities, you would realise that not only is the income number much higher, but also the sheer number of people. That, coupled with the much lower cost of living enables them to live a more or less capitalist lifestyle with ease.
On the list with the most number of billionaires, India is 4th in the world. China is 2nd.
Most major cities have more population, hence more customers, than most European countries. Read that again so it sinks in. India also has the largest number of young working people in the world.
It's a different scale and different culture. Less traveled people like Christian 5G simply don't have the perspective to comprehend the markets, so they make a few jokes online and then go about their day feeling smug.
Mobile payments? Startups? Mobile technology? It's either already been there for a decade or happening at a rapid pace.
Large companies understand this, because they have intelligent people working for them. That's why even with the red tape and other hassles, they still want a piece of the market because they see the money.