Apple’s unit in India will benefit retail sector: Google
The Dollar Business Bureau
Supporting the Apple Inc’s unit in India, Nitin Bawankule, Industry Director at Google India, speaking at the 'Digital Retail 2020' report release, said that the smartphone industry would grow further if the trendsetting iPhone maker opens a plant in India and designs more of India-focused products.
Responding to a question on the extent of business sense and benefits for Indian retailers and e-commerce players if Apple’s unit arrives in India, Bawankule said that regardless as to whether the move will leave an impact on the online or offline players, it will be great for the industry as a whole.
E-tail will emerge as a substantial path for the organized retail sector, contributing about 25% of total organized retail sales by 2020, said Bawankule.
According to the predictions made in recent reports, the number of online shoppers will increase to 175 million by 2020.
The report further states that VAS will play a major role and over 90% of the online shoppers will be willing to pay for the VAS, he added.
In a survey, over 46% of online buyers agreed to pay extra for fast delivery, 37% were willing to pay for easy returns and 35% were willing to pay extra for warranty extension, revealed Bawankule.
The California-based tech giant is planning for a single-brand retail store in India. It has also sought exemption from local sourcing norms citing that it builds state-of-the-art and cutting-edge technology devices for which the local resources cannot meet the requirement.
Apple CEO Tim Cook, during his recent visit to India, met Prime Minister Narendra Modi and discussed the scope of manufacturing and tapping the young talented minds in India.