India Considers Easing Sourcing Rules That May Help Apple
- Apple has been seeking relaxation in local sourcing norms
- Companies may get more time to comply with sourcing rules
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India is considering relaxing local sourcing norms for foreign companies that sell only their own brand, a move that is likely to encourage Apple Inc. to set up stores, people with knowledge of matter said.
According to the proposal, export of goods from a foreign company’s factory in India will be accounted as local sourcing, the people said, asking not to be identified as as the matter is not public. The time needed to meet the sourcing norms will be raised to eight years from five years. The change, piloted by the commerce and industry ministry, will be approved by the cabinet soon.