Finance minister Nirmala Sitharaman announced: “Indian MSMEs and other companies have often faced unfair competition from foreign countries. Therefore, global tenders will be disallowed in government procurement of up to Rs 200 crore. The necessary amendments of General Financial Rules will also be done.” This will be a step towards self-reliant India and will also support the ‘Make in India’ initiative.
This announcement ensure that local businesses, especially small and medium ones, don’t face unfair competition from large foreign companies with deep pockets.
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This announcement ensure that local businesses, especially small and medium ones, don’t face unfair competition from large foreign companies with deep pockets.
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