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Posted on 05/31/2016 9:52:03 AM PDT by Swordmaker
India’s commerce and industry minister said Monday the government was discussing an application by Apple Inc. seeking a waiver of the country’s domestic sourcing rules, so it can open its own retail stores in the world’s second-most populous nation. The rules demand that any company from outside India that wants to open retail stores under a single brand must source 30 percent of the components locally.
The regulations, drawn up by the finance ministry’s Foreign Investment Promotion Board (FIPB) in line with Prime Minister Narendra Modi’s “Make in India” initiative, provide an exemption for “cutting edge” or “state of the art” technology, and Apple hoped to be considered for a waiver under that provision. However, its application was turned down by FIPB last week, and the rejection was approved by the country's finance ministry.
However, Commerce and Industry Minister Nirmala Sitharaman told reporters Monday that her ministry was in discussion with the Finance Ministry for a review of Apple’s rejected application. She added that the discussion will focus on whether there is a need for waivers for the high-end technology Apple claims to be producing, and also how any given technology could be identified as being high-end.
(Excerpt) Read more at ibtimes.com ...
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Thanks for the heads up.
> must source 30 percent of the components locally.
And yet we import these *&^% $#@! *&^%^ *&^%er’s over here to take the jobs of Americans. This pisses me off.
Wonder how much it cost Apple to pay this guy off? Of course, Apple is exempt from the Foreign Corruption Act.
India should deny Apple a waiver to open up its own retail outlets. Apple is not special. They are just like eggs and milk and android phones. Apple products are sold in India and will continue to be sold in India.
Only if Apple wants to open its own retail stores in India. Otherwise the Apple products components are sourced from all over Asia and assembled by Foxcomm slave labor in China. And sold in India and elsewhere.
Does India even have an H1-B program?
For tht matter, does any other countrry besides the USA have an H1-B program?
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