NEW DELHI: India will demand foreign firms use more locally produced materials when working on government-run projects, a government order said late on Friday.
Indian authorities have been aggressively promoting Prime Minister Narendra Modi’s flagship campaign of a self-reliant economy by urging domestic manufacturers to cut down on imports.
The trade ministry’s department for promotion of industry and internal trade (DPIIT), ordered all government administrative divisions to notify it of projects valued above Rs 1,000 crore ($135.96 million) that are planned for the next five years.
DPIIT has still to announce the new local content requirement threshold for foreign firms entering into partnerships for state-run infrastructure projects. The threshold is currently 20-50%.
Firms in countries which do not allow Indian companies to participate in their government projects will not be allowed to tender bids for Indian government projects, the order said.
Source: ToI
You may also like
-
Air India Ranked Fourth Among World’s Most On-Time Airlines in June
-
Havells India Partners with Norway’s Pixii to Enter India’s 270 GWh Energy Storage Opportunity
-
UPI Goes Global: India’s Digital Payment Revolution Expands Across Borders
-
Tata Power Sets ₹1 Lakh Crore Revenue Target by 2030, Eyes Clean Energy and Nuclear Expansion
-
India’s Auto Components Industry Set for Strong 8–10% Growth in FY27
