The Finance Ministry has rejected the waiver of mandatory 30% local sourcing for Apple Inc to set up single-brand stores in India. It has sought exemption on the ground that it makes state-of-the-art and cutting-edge technology products for which local sourcing is not possible. DIPP secretary headed panel had favoured waiving the mandatory local sourcing requirement for Apple.

Nirmala Sitharaman to talk over Apple Retail Store Matter with the Finance Ministry

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