The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed to appoint a consulting agency to scrutinise tenders of central government procuring entities for compliance with public procurement norms. The department has floated a request-for-proposal (RFP) in this regard. The Government of India has issued Public Procurement (Preference to Make in India) Order, 2017. It has been issued to promote locally manufactured items in public procurement thereby increasing domestic production of goods and services. The policy aims at incentivizing procurement linked through local content requirements, thereby encouraging domestic manufacturer's participation in public procurement activities over entities merely importing to trade or assemble items. A penalty up to 10 per cent of the contract value can be imposed in case the contractor/ supplier does not meet the stipulated local content requirement. As per the order restrictive and discriminatory clauses against domestic
India grants legally guaranteed access to UK firms for 40,000 tenders annually under FTA, offering preferential status in government procurement
Economic think tank GTRI on Wednesday said allowing UK firms to participate in India's central government procurement tenders could crowd out MSMEs, which rely heavily on protected access to such contracts. After the UAE, India has opened its central government procurement (GP) for British companies under the free trade agreement (FTA) announced on Tuesday, subject to certain conditions. British firms can now bid for tenders, and those with just 20 per cent UK content will be treated as Class 2 Local Suppliers under India's Make in India policy. This effectively extends preferential treatment designed for Indian firms to foreign suppliers. While UK companies gain broad access to India's procurement system, Indian firms remain largely excluded from the UK's closed and highly competitive GP market, the Global Trade Research Initiative (GTRI) said. With little reciprocal benefit, this sets a dangerous precedent for future FTAs and weakens India's leverage to defend domestic interests,
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Among other policy changes suggested by the committee were facilitating faster land acquisition through brownfield expansions and repurposing retired thermal sites
This mission was first announced in the Budget on February 1 to boost the Make in India initiative
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Free trade, based on the theory of competitive advantage, benefits everyone in the long run
President Droupadi Murmu has invited Slovakian businesses to join the 'Make in India' programme, underscoring that India stands as a shining example of progress in today's world of uncertainties. President Murmu also visited the Jaguar Land Rover facility here on Thursday and met its Indian staff and witnessed the rollout of the Land Rover Defender unit. Murmu arrived here on Wednesday in the second leg of her two-nation state visit, becoming only the second Indian Head of State to visit the Slovak Republic. The last time an Indian President visited Slovakia was 29 years ago. Speaking at the Slovakia-India Business Forum organised by the Ministry of Foreign Affairs here, President Murmu said Slovakia is looking for hardworking skilled workers and professionals from overseas to help meet its workforce requirements. I am convinced that Indian talent can be a valuable partner in the economic progress of Slovakia, she said. The President said India's expectation is to become a USD fiv
India's defence production has grown at an "extraordinary pace" since the launch of 'Make in India' initiative, reaching a record Rs 1.27 trillion in 2023-24
The committee also recommended that the commerce department should 'proactively' take measures to conclude the FTAs
FM Nirmala Sitharaman said that production-linked incentive schemes attracted investments worth Rs 1.5 trillion so far, created 950,000 jobs
Sprint past $20 billion target, beating projections
Fridman took to X (formerly Twitter) to share the news on Saturday, describing the three-hour podcast with PM Modi as 'epic'
The government is in the process of setting a special purpose vehicle for making regional transport aircraft, Civil Aviation Minister K Rammohan Naidu said on Monday as he asserted that necessary policies are in place for India to manufacture planes and its components. Replying to questions in the Rajya Sabha, the minister highlighted the steps taken by the government to promote aircraft component manufacturing and MRO (Maintenance, Repair and Overhaul) activities, including having a uniform IGST rate. India is one of the world's fastest growing civil aviation markets and domestic carriers have placed orders for more than 1,500 planes as they expand their fleets to meet rising air traffic demand. "We have changed the thought process that we have when it comes to manufacturing of aircraft. We are saying that India is at the stage right now where we can manufacture, we can design and we can maintain an aircraft," Naidu said. Elaborating about the way forward, the minister said the ..
Kalyani Powertrain, an arm of Bharat Forge, on Thursday said it has entered into a technology licensing agreement with Taiwan's Compal Electronics Inc for manufacturing of 'X86 platform' servers in India. The two parties have signed a Memorandum of Understanding (MoU) to develop server business using locally manufactured solutions in India. Compal will provide Kalyani Powertrain Ltd (KPTL) technological support related to servers, including overseeing local production, assembly, testing activities, and final sales, the company said in a statement. "This association will give a strong impetus to India's manufacturing competitiveness. We are ecstatic and encouraged by the trust they have reposed on the Kalyani group for the proposed association," Bharat Forge Vice Chairman and Joint MD Amit Kalyani said. Compal CEO Tony Bonadero said Kalyani Powertrain's extensive experience in the Indian market will create synergistic effects in the collaboration. "We look forward to this being jus
India is developing the Zorawar tank, a highly versatile platform, to boost the Army's combat capabilities along the contested frontier with China