Budget impact: Exports may be counted as local sourcing for retail

Allowing sourcing through a third party or group companies is yet another concession

Even as the government is fine-tuning changes in the single-brand retail policy following the Budget proposal to relax the local sourcing norms, it is learnt that at least three significant tweaks are being planned to attract foreign investment from marquee multinational brands.

These changes — easier sourcing norms and access to the online market without the condition of a physical store — are likely to benefit international majors ranging from Apple to Ikea, Uniqlo to Shein and many others.

The local sourcing norm is likely to be changed with a definite focus on exports, a source close to the development