Large Indian companies bidding for government tenders will soon be facing foreign competition as India prepares to open up its $500 billion public procurement market as part of free trade agreement negotiations.
Public procurement of contracts worth over â¹200 crore were opened up in the FTA signed with the UAE last year, in a major policy shift by the ruling National Democratic Alliance. And now, every country India is negotiating with, including the European Union, UK and Australia, is gunning for access to the public procurement market.
A government official said, "The UK and EU won't negotiate with us if we keep the public procurement market out of the trade talks. Australia has asked for similar access as given to the UAE. The UAE deal is used as a yardstick by other countries. One has to understand that companies from the UK and EU will be able to come in high-tech areas, where requirements for technicals standards are high."
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