सविस्तर माहितीसाठी इकॉनॉमिक टाइम्स मधील बातमी वाचावी.

The public procurement policy that the Cabinet approved on Wednesday offers a major push towards the government’s indigenisation drive, opening up a potentially $600 billion-plus market for Indian manufacturing and services companies.

The policy, which makes it mandatory to give first preference to domestic suppliers in all government purchases worth over Rs 5 lakh, also covers autonomous bodies and state-run companies and other entities.

This is in line with the government’s ‘Make in India’ vision of promoting domestic production of goods and services to enhance local income and employment, it said in a news release. The policy won’t apply to purchases worth less than Rs 5 lakh. Beyond that, for procurement up to Rs 50 lakh, and where the nodal ministry determines that there is sufficient local capacity and competition, only Indian suppliers will be eligible to participate in the bid.

via procurement policy: Indigenisation drive: Cabinet opens up $600 billion market for domestic manufacturing firms – The Economic Times