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Wireless

India ministers clash over Apple's retail plans

Tuesday 31 May 2016 | 11:06 CET | News
India's minister of commerce and industry supports waiving local-sourcing rules. However, the country's finance ministry "has taken a different line", WSJ reports, citing Nirmala Sitharaman, India's commerce and industry minister. Under current regulations, manufacturers must procure 30 percent of components locally if they want to sell products through their own retail stores. Bloomberg earlier reported, citing unnamed people with direct knowledge of matter, that India's Foreign Investment Promotion Board (FIPB) ruled that Apple must comply with these regulations if it wants to sell products

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Categories: Mobile & Wireless
Companies: Apple
Countries: India
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