You are here: Home » News-IANS » Business-Economy
Business Standard

Preference to local suppliers for public procurement: Government

IANS  |  New Delhi 

In a bid to encourage manufacturing under Make in India, the Commerce Ministry on Thursday said that for procurement preference would be given to local suppliers for goods having 50 per cent locally sourced content.

"The has issued Public Procurement Order 2017 on Thursday as part of the policy to encourage 'Make in India' and promote manufacturing and production of goods and services in with a view to enhancing income and employment," the Ministry said here in a statement.

"Subject to the provisions of this order and to any specific instructions issued, purchase preference shall be given to local suppliers in all procurements undertaken by procuring entities in the manner specified," the statement said.

As per the order, the minimum local content shall ordinarily be 50 per cent, it said.

The concerned ministry may prescribe a higher or lower percentage in respect of any particular item and may also prescribe the manner of calculation of local content. The margin of purchase preference shall be 20 per cent, it added.

--IANS

mm/rn

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 19:56 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU