Apple, IKEA gain after local-sourcing norms eased for single-brand retail

The government’s decision on Wednesday to ease local-sourcing norms for single-brand retail is likely benefit players such as IKEA, Uniqlo and H&M, said sector experts and companies. 

Apple, which has not been able to open fully-owned stores because of the 30 per cent sourcing norms, was not available for comment. Analysts said the Cupertino-based company may now launch its e-store in the country. 

According to the Cabinet decision taken on Wednesday, all procurement in India — for domestic or export markets — will be accepted as local sourcing. Also, single-brand retailers will be allowed to start online store even before