Chinese PC maker Lenovo has set to revise its application for opening own retail stores in India whereby it will not seek exemption from 30 percent local sourcing offered to ‘cutting edge’ technology firms. A source said the firm is not applying for foreign direct investment (FDI) in retail through that route. It said that already, 30-40 percent of desktop PCs and laptops Lenovo sell in the country are manufactured locally in its Puducherry plant. Lenovo’s original application for retail FDI was made before the government announced changes in the policy last year, allowing exemption for three years from local sourcing to companies with cutting-edge technology. Opening of Lenovo’s own retail stores thus is an added business opportunity for the signage companies having expertise in in-store projects.
