"We took a line that we would not mind waiving off the local sourcing norms for Apple's high end products. The Finance Ministry has taken a different line. We will discuss this with the Finance Ministry," Sitharaman told a press conference.
Earlier, the Finance Ministry rejected the recommendations from the Commerce Ministry for the waiver for Apple.
Finance Minister Arun Jaitley is not in favor of providing any waiver to Apple. The US-based MNC planned to open exclusive retail outlets in India if the government waived off 30 percent of the mandatory local sourcing norms.
As per the norms, 100 percent of all foreign direct investment is to be allowed for single brand retail outlets. This is on the condition that the manufacturer source at least 30 percent of the goods locally. However, this rule is relaxed for companies that bring cutting edge technology.
Sitharaman wanted application in the norms for Apple's high end products, but the Finance Ministry turned down her proposal.
