A DIPP secretary headed panel had favored waiving the mandatory local sourcing requirement for the US-based firm. Nirmala Sitharaman said her ministry has taken a line that the 30% local sourcing requirement can be waived off for high-end technology products. To seek more clarity, the Commerce Ministry will discuss the issue of exempting Apple from local sourcing norms with the Finance Ministry, which has rejected the proposal, even as the former is against allowing the iPhone maker to sell refurbished handsets in the country. Commerce and Industry Minister Nirmala Sitharaman on Monday said her ministry has taken a line that the 30% local sourcing requirement can be waived off for high-end technology products. The Finance Ministry is against relaxing the 30% domestic sourcing norms, as sought by iPhone and iPad maker Apple as a pre-condition to setting up single-brand retail stores in the country.

Source: dna May 30, 2016 14:37 UTC