• Let’s be clear on single-brand retailing, says Sitharaman

    Now, the finance ministry has already taken a different position, we will certainly talk to them… I want more clarity on that… We will talk and make sure that sooner we will come out with some decision,” she told reporters on Monday morning. Sources told TOI that the concern over the finance ministry’s proposal has been flagged at the highest level and there has been a suggestion that the issue should be discussed at the level of officers.

    They contested the finance ministry’s observation over the decision of the panel to classify Apple’s proposal in the “cutting-edge” category. While North Block had pointed out that the recommendation was made without any “expert” being part of the group, sources said the Department of IT as well as NITI Aayog representatives had provided technical inputs. Similarly, the finance ministry has pointed out that even Xiaomi had sought permission to open stores in the same category, a proposal that was withdrawn after the DIPP sought detailed queries.

    “Can Apple sources from artisans and local vendors when none exist?” asked a source. Countering the finance ministry’s claims over the plan impacting job creation, sources said Apple had indicated that in the years ahead, they would open a few hundred stores, which will create several jobs.

    “We are not talking about changing the rule for manufacturing. We are just saying let’s be clear on single-brand retailing… Why do we want to have something which is not going to change in any way the parameter in the market and therefore we want to explain it out to the finance ministry,” Sitharaman said.

    Last week, the Foreign Investment Promotion Board (FIPB), under the finance ministry, had red-flagged a panel’s proposal to ease the mandatory local sourcing norm for the Cupertino-based company to sell its products through the single-brand retail window. Joe Kelly Womens Jersey

    Share This