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Xerox ModiCorp focus on retail trade

New Delhi, Sept. 7 (PTI): Xerox ModiCorp is believed to have again moved Foreign Investment Promotion Board for directly selling fax machines and other equipment, despite the proposal being rejected earlier since foreign direct investment in retail trading is not allowed.

In its reworked application, Xerox ModiCorp has cited similar approvals given to Samsung India Electronics and Canon to sell such equipment directly to institutional, industrial customers, provide warranty as well as after-sales services.

Besides, XML says, sales to government and public sector customers and agencies are required to be made directly in terms of DGS&D rate contract.

While FIPB permitted Xerox ModiCorp to market, sell and distribute fax machines and other equipment for which department of telecom’s type/interface approval was needed, the restriction on direct sales was inserted.

XML sought deletion of the above condition but FIPB rejected this plea in July this year. The company has again sought the same concession, but the board is believed to have deferred consideration of the proposal.

In its meeting last month, the board directed that a meeting be convened involving representatives of the commerce ministry and the department of economic affairs besides others, for further examination of this proposal “after ascertaining the background on this case with particular reference to the present status on examination by DoT of any violation in the past and appropriate action taken thereon”.

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