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Xiaomi India lodges FDI application  

Xiaomi India, the Chinese smartphone maker’s local subsidiary, has lodged an application with the government to operate single-brand retail stores.

The move coincides with US tech giant Apple resubmitting a similar application as it attempts to gain formal Indian Government approval to operate its own Apple Stores in the heavily-regulated economy.

Xiaomi currently sells handsets online and through a network of offline distributors.

But to gain approval to open single-brand stores, companies must commit to sourcing at least 30 per cent of its stock or componentry locally. Apple is applying for a waiver of this clause on the grounds it makes “state-of-the-art” and”’cutting edge” technology products which cannot be sourced locally.

“Chinese smartphone maker Xiaomi has submitted an application to the Department of Industrial Policy and Promotion (DIPP),” an official confirmed to Indian news media this week.

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