Govt may exempt Apple Inc from FDI rule on local sourcing

Apple in India: According to the FDI norms, the government may relax the mandatory local sourcing norms for entities undertaking single-brand retailing of products if they have cutting-edge technology and where local sourcing is not feasible. (Reuters image of Apple Inc chief Tim Cook) Apple in India: iPhone and iPad maker may get exemption from a mandatory local sourcing rule in India for foreign direct investment (FDI), which will enable the company to open single-brand retail stores in the c