SME Times is powered by   
Search News
Just in:   • MSMEs will play a key role towards ‘Viksit Bharat’ goal: NK Singh  • India’s engineering goods exports touch all-time high of $116.7 billion in 2024-25  • Trade minister vows all-out efforts to boost foreign investment, reshoring firms  • Solid monetary frameworks helped emerging markets navigate recent crises: Gita Gopinath  • India, as fastest growing economy, is ideal investment destination: RBI Governor 
Last updated: 27 Sep, 2014  

dinesh-raiTHMB.jpg Public procurement policy for MSMEs likely this week

MSME.9.5.jpg
   Top Stories
» India’s engineering goods exports touch all-time high of $116.7 billion in 2024-25
» India, as fastest growing economy, is ideal investment destination: RBI Governor
» India’s forex reserves on way to reclaim all-time high of $704.8 billion
» Centre notifies new rules for GST Appellate Tribunal
» India’s steel industry poised for global growth, focus on FTAs and self-reliance: Piyush Goyal
Namrata Kath Hazarika | 08 Jun, 2010
The new public procurement policy, which will make it mandatory for ministries and Public Sector Units (PSUs) to procure 20 percent of their annual purchase volume from micro and small enterprises (MSEs), will be finalized and placed before the cabinet by the end of this week, said Secretary, Ministry of MSME, Dinesh Rai on Tuesday.    

"We have been able to convince the Commerce Ministry and its team on the procurement policy. Now, we have to talk to the home ministry on the issue," Rai said speaking on the sidelines of a FICCI conference on "Global Competitiveness in Manufacturing: Prospects & Strategies for Indian Manufacturing" in New Delhi.

He said the MSME ministry have been able to sort out the issues with defence ministry and expects that the final discussion papers would be put before the cabinet by this week itself.
 
Earlier, the Ministry of Micro, Small and Medium Enterprises had compiled a draft public procurement policy (PPP), and circulated a Cabinet note proposing that at least 20 percent of the government and purchases of the public sector units be sourced from small and medium enterprises. However, the idea was opposed by some ministries including  the ministries of home, petroleum and commerce, and the PSUs under them, as they doubted the quality of products from MSME units. 

The MSME share of estimated annual procurements, worth over Rs 1,70,000 crore, is now a mere 5 percent, or Rs 8,500 crore. It is expected if the government accepts the recommendation, MSMEs can have a potential Rs 34,000 crore slice of the overall purchases, including those made by public sector companies.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

Public procurement policy for MSMEs
Jaywant | Wed Oct 6 08:09:04 2010
Has this come into force? what is the latest position? Why the site has not been updated please?


 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter