Policy to promote 'made in India' steel products
27 Jun 2017 7:29 PM GMT
The Government had approved a Policy for providing preference to domestically manufactured iron & steel products in government procurement (DMI&SP Policy) and notified the same on May 8, 2017.
The policy has come into force from the date of its publication in the Gazette of India. The policy mandates to provide preference to Domestically Manufactured Iron & Steel Products (DMI&SP), in Government Procurement in which a minimum value addition of 15% have taken place domestically.
Each Ministry or Department of Government and all agencies/entities under their administrative control will be under the purview of the DMI&SP policy. The policy is applicable to supply of iron & steel products having aggregated estimate value of Rs50 Crores or more.
The policy has provisions for waivers to all such procurements, where specific grades of steel are not manufactured in the country.
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