India on Wednesday banned global tenders for government procurements worth up to ₹200 crore. This was in line with Prime Minister Narendra Modi’s clarion call a day earlier to be “vocal about local", and was part of the first tranche of special measures announced by Finance Minister Nirmala Sitharaman in the country’s effort to mitigate the impact of covid-19 on the economy.
A ban on small global tenders should help India’s small suppliers, the focus of Wednesday’s sub-package. These companies have been exposed to competition from foreign entities that were not necessarily more productive or efficient, but aided and subsidized by their governments—such as China’s.
Read more on livemint.com