Cabinet okays policy to promote 'Make in India'

The Cabinet on Wednesday approved a public procurement policy to give preference to domestically manufactured goods with a view to promote 'Make in India' initiative. The move would facilitate local manufacturing and boost domestic demand for locally manufactured products, the commerce ministry said in a series of tweets. "Preference in public procurement on the basis of minimum local content. Only local suppliers eligible in

"Preference in public procurement on the basis of minimum local content. Only local suppliers eligible in procurement of Rs 50 lakh or less, if sufficient local capacity and competition ensured," it said. Briefing about the Cabinet meeting, Finance Minister Arun Jaitley said the preference to the domestic manufactured goods would be given under the "Government Procurement Preference to Make in India order 2017". The ministry said that eligibility norms/conditions would be made non- restrictive and avoided in tenders.