For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Govt Approves Public Procurement Policy for Domestic Goods: Reports

By Religare
|

The Indian Government has said that it has approved a public procurement policy to give preference to domestically manufactured goods with a view to promote 'Make in India' initiative.

Govt Approves Public Procurement Policy for Domestic Goods: Reports
 

As per reports, the move would facilitate local manufacturing and boost domestic demand for locally manufactured products.

As per reports, there will be preference in public procurement on the basis of minimum local content. Only local suppliers will be eligible in procurement of Rs 50 lakh or less, if sufficient local capacity and competition ensured.

Commenting on the issue, Finance Minister Arun Jaitley told the media, "The preference to the domestic manufactured goods would be given under the "Government Procurement Preference to Make in India order 2017".

The ministry said that eligibility norms/conditions would be made non- restrictive and avoided in tenders.

"20 per cent margin of purchase preference for local suppliers in procurement of more than Rs 50 lakh," it added.

Dion Global Solutions

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more