“The Indian government on Monday said it was discussing Apple Inc’s foreign direct investment application that seeks a waiver from a local sourcing rule,” Manoj Kumar reports for Reuters. “Nirmala Sitharaman, commerce and industry minister in the federal cabinet, told reporters her ministry would discuss the issue with the finance ministry.”

“A panel set up by Sitharaman’s ministry had favoured waiving the sourcing requirement for the U.S.-based phone-maker. But a government official, with direct knowledge of the FIPB decision, said Apple’s request was turned down as it failed to provide any material “on record” to back it,” Kumar reports. “‘We took a line that we wouldn’t mind waiving off the local sourcing norm for Apple’s high-end products,’ said Sitharaman. ‘(The) finance ministry has taken a different line. We will talk to them.'”

Read more in the full article here.

MacDailyNews Take: As we recently remarked on Apple Retail Stores in India:

That’ll be worked out eventually. — MacDailyNews, May 24, 2016

MacDailyNews Note: Today is Memorial Day in the U.S. and we will be spending the day with friends and family. We will resume normal posting tomorrow morning as usual. As always, thank you for visiting MacDailyNews.com!

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