New Delhi: The government is looking to relax public procurement rules to support the production of new, innovative products as part of the Make in India initiative, which recently completed ten years. Commerce and Industry Minister Piyush Goyal stated that some sectors may need amendments in procurement rules to help them transition and grow. The idea is to provide a clearer path for these sectors to become preferred suppliers in government contracts.
The government is also considering how to make it easier for manufacturers who are producing goods for the first time in India to participate in procurement, possibly by allowing alternatives to the usual requirement of prior experience, such as lab testing.
These discussions came after an interaction between Goyal and over 140 CEOs from companies benefiting from the production-linked incentive (PLI) scheme. The PLI scheme has attracted Rs 1.46 trillion in investments so far, with expectations to hit Rs 2 trillion next year. The scheme has already created around 950,000 jobs, with projections of reaching 1.2 million soon. Goyal emphasized the importance of increasing domestic value addition to further boost India’s self-reliance.
Also Read –
Discussion about this post