ALSO READManesar gang-rape: Women activists question government inaction India bonds yields fall to near one-month low as government cuts borrowing US government supports setting up F-16 facility in India: Lockheed Martin Government Aims To Make India A Global Biotech Hub By 2020 Government takes steps to push up India's 'Ease of Doing Business'
In a bid to encourage manufacturing under Make in India, the Commerce Ministry on Thursday said that for government procurement preference would be given to local suppliers for goods having 50 per cent locally sourced content.
"The government 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 India 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.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)