"We are manufacturing 75 percent 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. 1r6k4n
Xiaomi, in Department of Industrial Policy and Promotion (DIPP) for opening single brand retail stores in India.
lobbied hard for the exemption from the mandatory 30 percent local sourcing saying that its products have high-end technology which could not be sourced from local vendors.
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 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 platforms from July 13.
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