Relaxed Local Sourcing Norms for Single Brand Retail Will Boost Economy, Experts Say
The government's decision to relax local sourcing norms for foreign direct investment (FDI) in single brand retail trading would not in anyway upset the equilibrium of the organic retail and would add to our economy, industry experts said on Friday.In a boost for companies like Apple, Finance Minister Nirmala Sitharaman on Friday announced to relax the mandatory 30 percent local sourcing norms for FDI in the single-brand retail sector."By its core character, single-brand retail promotes the brand, enhances retailing…