BANGALORE -(Dow Jones)- The Indian government is planning to ease rules related to local sourcing that it imposed while opening up the single-brand retail segment to foreign direct investment, the Times of India reported Tuesday, citing senior government sources. The industry ministry has received feedback from companies such as Ikea, Nike Inc. and Apple Inc., which say they're unlikely to invest in India until the sourcing rules are simplified. Current rules require single-brand retail companies with more than 51% foreign holding to compulsorily source at least 30% of the total value of their products from Indian small industries, cottage industries, artisans and craftsmen. India had in January issued a formal order allowing 100% FDI in single-brand retail. Newspaper website: http://www.timesofindia.com --By Bangalore Bureau, Dow Jones Newswires; djn.in@dowjones.com
