Exempt Apple from Sourcing Norms, Suggests Govt Panel
A government panel has recommended exempting iPhone and iPad maker Apple from mandatory local sourcing norms, a move which would pave the way for tech giant opening single-brand retail stores in the country.
The company had given a detailed presentation to the committee headed by Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek on April 19, on its products, technology, innovations and camera.
“The committee has found that the company's products are cutting edge technology and state-of-the-art. It has
recommended to exempt them from the local sourcing norms,” sources said.
The DIPP would soon send the proposal for final approval to the Finance Ministry.
The US-based company has sought approval from the government on setting up single-brand retail stores in the country.
As per the foreign direct investment (FDI) norms, the government may relax the mandatory local sourcing norms for entities undertaking singlebrand retailing of products having state-of-the-art and cutting edge technology and where local sourcing is not possible. — PTI