Dyson mulls stores  in India

Dyson mulls stores  in India
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British appliances maker Dyson has sought approval of the Union government to set up single-brand retail stores in India. It has also demanded relaxation of mandatory local sourcing norms citing its products’ are state-of-art, an official said. 

New Delhi : British appliances maker Dyson has sought approval of the Union government to set up single-brand retail stores in India. It has also demanded relaxation of mandatory local sourcing norms citing its products’ are state-of-art, an official said.

As per the current FDI policy, companies making state-of- the-art technology items are exempted from the mandatory local sourcing norms in the single-brand retail sector for up to three years. After the exemption period, companies would be given five years to comply with the mandatory 30 per cent domestic sourcing norms.

In November last year, the British company had stated that it would be entering the Indian market and plans to invest around 150 million British Pounds (Rs 124.32 crore) in the next three to five years to set up a retail network here.

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