Industry

Green signal for Apple single brand retail outlets

A government panel led by the DIPP Secretary has suggested that electronic items maker Apple can be exempted from 30 per cent local sourcing norms on FDI in single brand retail as the company's proposal meets the norms on 'cutting edge technology'.

Official sources said the recommendation of the expert panel, including representatives from Niti Aayog and electronics and IT department, will now be forwarded to the Commerce and Industry Minister and then the Finance Minister for their approval.

Similar proposals from Chinese firms Xiaomi and LeEco will soon be taken up by the expert panel, the sources said.

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Printable version | May 17, 2021 8:14:45 AM | https://www.thehindu.com/business/Industry/apple-gets-govt-nod-to-set-up-single-brand-retail-outlets/article8528834.ece

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