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Commerce Ministry to press Finance Ministry to reconsider rejection of local sourcing waiver to Apple
In the latest, Commerce Ministry may press the Finance Ministry to think again about its decision to reject the waiver of local sourcing clause for Apple Inc for setting up single-brand stores in India.
Zee Media Bureau
New Delhi: In the latest, Commerce Ministry may press the Finance Ministry to think again about its decision to reject the waiver of local sourcing clause for Apple Inc for setting up single-brand stores in India. However, the reports also claim that the company won't be allowed to import refurbished mobiles for sale in India.
The Finance Ministry has rejected relaxing the 30 per cent domestic sourcing norms, as sought by iPhone and iPad maker as a pre-condition for bringing in FDI to set up single-brand retail stores in the country.
Commerce and Industry Minister Nirmala Sitharaman on Monday said "Specifically for the high-end technology products, we took a line that we would not mind waiving the 30 per cent local sourcing requirement...Now the Finance Ministry has already taken a different position, and we will certainly talk to them.
"I want more clarity on that...We will talk and make sure that sooner we will come out with some decision. If there is a concern, I want to address that," she added.
With PTI inputs