Govt disallows global tenders in govt procurement upto Rs 200 cr

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday said that global tenders are to be disallowed in government procurement up to Rs 200 crores.

''Global tenders will be disallowed in government procurement for tenders up to ₹ 200 crore. This will address unfair competition being faced by MSMEs, and enable them to participate actively in government purchases.''

''This step has been taken to protect Indian businesses and MSMEs from unfair competition from foreign companies. Necessary amendment will be carried out in general financial rules for the same,'' she said.

This will be a step towards self-reliant India and support Make in India, the finance minister said, adding that it would also help MSMEs to increase their business.

The Finance Minister gave details of a Rs 20 lakh crore economic relief plan announced by Prime Minister Narendra Modi on Tuesday aimed at supporting an economy ravaged by a weeks-long coronavirus lockdown.