May 28, 2024


The government is planning to tweak its procurement policy to give a fillip to domestic manufacturing. The industry department has floated a proposal to raise the minimum local content requirement for public procurement for Class-I and -II suppliers from 50 per cent currently to 70 per cent, and 20 per cent as of now to 50 per cent, respectively.


However, it has suggested exempting defence production, electronics and information technology, telecommunications, mines, railways, power, ports, and shipping & waterways from the enhanced limits, a senior government official told Business Standard, requesting anonymity.

 


“The inter-ministerial consultation process is on. The departments and

First Published: May 13 2024 | 12:05 AM IST