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Don't need exemption from sourcing norm: Xiaomi
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Don't need exemption from sourcing norm: Xiaomi




Chinese smartphone maker Xiaomi
today 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. "We are manufacturing 75 per cent of devices that we sell
in India locally. From that perspective, we don't need any
kind of exemption. Our application is still under the purview
of the government. We probably will be able to know about it
in some time and then share more details," Xiaomi India Head
Manu Kumar Jain told PTI. Xiaomi, in April this year, had approached the Department
of Industrial Policy and Promotion (DIPP) for opening single
brand retail stores in India. Apple too applied for opening single brand retail stores
but lobbied hard for the exemption from the mandatory 30 per
cent local sourcing saying that its products have high-end
technology which could not be sourced from local vendors.Xiaomi also sought exemption initially but retracted later. The government, on June 20 this year, relaxed FDI norms by
giving a three-year exemption from local sourcing to foreign
players in single-brand retail and a further five-year
relaxation for 'state-of-art' and 'cutting-edge' technology. The decision to relax the norms was taken at a high-level
meeting chaired by Prime Minister Narendra Modi. Jain was speaking on the sidelines of company's event
where it unveiled 4G smartphone Mi Max with 6.44 inch display
for a starting price of Rs 14,999. The phone will start
selling on Xiaomi's website Mi.com from July 6 and on other
e-commerce platform from July 13.


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Current time: 12-16-2017, 04:46 PM



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