Govt eases local sourcing in single brand retail
The government on Monday announced changes in the Foreign Direct Investment (FDI) norms in single brand retail trading, relaxing the 30% mandatory local sourcing norm for up to three years. However, this would apply to trading of products having 'cutting-edge' and 'state-of-the-art' technology. Meanwhile, FDI norms were also relaxed in the civil aviation and pharmaceutical sectors.