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India Business Bulletin (July 2019)

It has been proposed in the Union Budget of 2019 that local sourcing norms applicable on foreign direct investment (“FDI”) would be further relaxed. Currently, 100% FDI is allowed in single-brand retail with the condition that where the investment exceeds 51%, the investment would have to be approved by the Government and the sourcing of 30% of the value of goods purchased should be done from local Indian sources, preferably MSMEs, village and cottage industries, artisans, craftsmen etc.

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