India Local Sourcing Norms

Welcoming the Narendra Modi cabinet's decision to ease the 30 per cent local sourcing norm in single-brand retail (SBRT), Apple on Thursday said it looks forward to welcoming customers at its first branded retail store in India soon.

Budget 2019: Finance Minister Nirmala Sitharaman detailed a number of proposals in the budget to boost e-mobility, Indian space programme, startups and Make in India initiative as the government looks to turn the country into a $5 trillion (3,42,65,500 crores) economy by 2024-2025.

Five years, commitment of 30 per cent local sourcing and a planned investment of Rs 10,500 crore is what Swedish furniture retailer Ikea had to make to launch its first store in India. The long-awaited Ikea store opened on Thursday in a 13-acre complex in the heart of HITEC City, Hyderabad. It has not been an easy journey - Ikea India launch was mu...

Apple sells its products through Apple-owned retail stores in countries like China, Germany, the US, the UK and France, among others. It has no wholly-owned store in India and sells its products through distributors such as Redington and Ingram Micro.

Five companies - Apple India, Acer, Le Ecosystem Technology, Lenovo (India) and OPPO Mobiles have sought relaxation in the local sourcing norms to set up single brand retail stores in India, Parliament was informed on Monday.

"We are manufacturing 75 percent of devices that we sell in India locally," Xiaomi India Head Manu Kumar Jain said.

Chinese smartphone maker Xiaomi on Thursday said it is not seeking exemption from Indian government to fulfil the 30 per cent local sourcing norm, as it already makes 75 per cent of devices locally that are sold in India.

Apple will have to submit fresh application for opening single brand retail stores to seek exemption from local sourcing norms.

The new rules exempt foreign retailers for three years from a requirement to source 30 percent of the goods sold in company-owned stores locally.

"With these changes, India is now the most open economy in the world for FDI," said an official statement.

The government may give more time to overseas high-tech companies like Apple Inc to comply with the domestic sourcing norms for opening single-brand retail stores in the country.

While the Finance Ministry rejected the waiver of mandatory 30 percent local sourcing for Apple, Xiaomi is believed to have withdrawn its proposal.

"They were seeking exemption from the mandatory local sourcing norms. Now they have withdrawn this request," an official said.

A week after Apple CEO Tim Cook visited India, the government is looking at whether to waive local sourcing rules which would allow the company a far smoother ride in opening its own retail outlets in the country.

The government may relax mandatory local sourcing norms for entities undertaking single-brand retailing of products having state-of-the-art technology.

Welcoming the Narendra Modi cabinet's decision to ease the 30 per cent local sourcing norm in single-brand retail (SBRT), Apple on Thursday said it looks forward to welcoming customers at its first branded retail store in India soon.

Budget 2019: Finance Minister Nirmala Sitharaman detailed a number of proposals in the budget to boost e-mobility, Indian space programme, startups and Make in India initiative as the government looks to turn the country into a $5 trillion (3,42,65,500 crores) economy by 2024-2025.

Five years, commitment of 30 per cent local sourcing and a planned investment of Rs 10,500 crore is what Swedish furniture retailer Ikea had to make to launch its first store in India. The long-awaited Ikea store opened on Thursday in a 13-acre complex in the heart of HITEC City, Hyderabad. It has not been an easy journey - Ikea India launch was mu...

Apple sells its products through Apple-owned retail stores in countries like China, Germany, the US, the UK and France, among others. It has no wholly-owned store in India and sells its products through distributors such as Redington and Ingram Micro.

Five companies - Apple India, Acer, Le Ecosystem Technology, Lenovo (India) and OPPO Mobiles have sought relaxation in the local sourcing norms to set up single brand retail stores in India, Parliament was informed on Monday.

"We are manufacturing 75 percent of devices that we sell in India locally," Xiaomi India Head Manu Kumar Jain said.

Chinese smartphone maker Xiaomi on Thursday said it is not seeking exemption from Indian government to fulfil the 30 per cent local sourcing norm, as it already makes 75 per cent of devices locally that are sold in India.

Apple will have to submit fresh application for opening single brand retail stores to seek exemption from local sourcing norms.

The new rules exempt foreign retailers for three years from a requirement to source 30 percent of the goods sold in company-owned stores locally.

"With these changes, India is now the most open economy in the world for FDI," said an official statement.

The government may give more time to overseas high-tech companies like Apple Inc to comply with the domestic sourcing norms for opening single-brand retail stores in the country.

While the Finance Ministry rejected the waiver of mandatory 30 percent local sourcing for Apple, Xiaomi is believed to have withdrawn its proposal.

"They were seeking exemption from the mandatory local sourcing norms. Now they have withdrawn this request," an official said.

A week after Apple CEO Tim Cook visited India, the government is looking at whether to waive local sourcing rules which would allow the company a far smoother ride in opening its own retail outlets in the country.

The government may relax mandatory local sourcing norms for entities undertaking single-brand retailing of products having state-of-the-art technology.