Budget impact: Electronic, fashion brands may accelerate India plans

US-based Apple and Japanese fashion retailer Uniqlo may speed up their India store roll-out plans as the government proposes to ease local sourcing rules in single brand retail. On Friday, Finance Minister Nirmala Sitharaman said the 30 per cent local sourcing norms in single-brand retail would be relaxed as she sought to make India an attractive destination for foreign players.
 
Sources said Apple, which had been looking to launch its stores in India since three years, would fast-forward its plans, targeting a launch in the next 6-8 months. Uniqlo, too, may aggressively focus on its India store launch in