Crystal jewellery and accessories maker Swarovski is seeking to open single-brand retail stores in India.

Swarovski has applied to the Foreign Investment Promotion Board to establish 100 per cent owned stores across India.

Currently, Swarovski is selling its products in India through 34 franchised stores. It says the investment application is aimed at better controlling its operation in the country.

With regards to 30 per cent sourcing clause, Swarovski says it will have no problem meeting the requirement as it already runs a production unit in Pune which manufactures crystal pearls.

When asked about its expansion plan for India, the Austrian company says it will not be aggressive in expanding there as it already has considerable presence in the market.

Swarovski has 2350 stores in 170 countries, 700 of which are in Asia Pacific.