InShortViral: Tim Cook seeks permission from Indian Government to open first stores in India. Apple has deeply expressed its desire to open an outlet of Apple Retail Store in India via an application.
In recent years the Indian tech market has became the most promising mobile industry in the world. Apple greatly expands its influence in the USA and China at the same time, hence, there is no relaxation of the Indian market concerned about the recent development in the Indian market and Apple card is an important step taken forward.
According to the latest report, Apple has recently submitted an application to the Indian government, aiming to open Apple retail stores in India. Apple has submitted an application to the Indian Ministry of industrial policy to promote DIPP, however, India’s Department of Industrial Policy and Promotion to open its own stores, secretary at the federal trade ministry unit Amitabh Kant said: “We have received Apple’s application, which is currently being reviewed.”
Tim Cook: The Time Has Come To Set India’s First Apple Retail Store
Apple has confirmed the application filling but refused to give details, but only expressed their hope to open brand retail stores in India, and to sell their products online. Although Apple had previously said they were very interested in the Indian market, he pointed out that Apple has a very good development in the Indian market, but it is not known if Apple intends to open stores in India then how much they have to invest?
At present the Indian government has relaxed restrictions on foreign investment (foreign companies), so companies such as Apple are more likely to develop within the Indian market. The Indian government regulations Act earlier implemented new rule that if any company desiring to operate its retail outlets within the Indian territory, then the company must have a certain percentage of product manufacturing in India.
Apple CEO Tim Cook visited India last September. Then Indian Prime Minister Narendra Modi Invited Apple’s CEO Tim Cook to set up factories in India and deploy local Apple Pay startups and discussed other relevant topics. After the meeting, Cook said in a statement that the plant/factory construction proposal in a positive way and further said that Apple’s founder Steve Jobs had visited India at very young age to acknowledge a lot of inspirational rituals from India for Apple products.
Apple will increase operational investment in India by the end of 2016. Moreover, Apple will jointly run its firm with Tata’s Electronics chain Croma, to open six pilot operations. As per the research firm Strategy Analytics. Within 2017, India will overtake the United States to become the world’s No.2 smartphone market, however, in India, the only dominating smartphone brands are Samsung Electronics and next followed by Indian brand Micromax.