India seeks to provide MSMEs access to govt buying of different countries

Posted under: MSME
Date: 2023-11-07
India seeks to provide MSMEs access to govt buying of different countries

India is looking at ways, such as free trade agreements, to enable domestic MSMEs to participate in the public procurement of different countries, Commerce Secretary Sunil Barthwal said on Monday. He said that 10–15 percent of the GDP of any country accounts for public procurement, which could be around USD 10–15 trillion in value terms. Several countries give preference to MSMEs in their public procurement. In fact, there are various ways in which countries promote MSMEs; we also promote them in India in the sense that we give them a special purchase preference. ""As more and more FTAs are getting signed, we are also looking at how MSMEs can have access to the public procurement of different countries, so that Indian companies may get an opportunity. MSMEs from other countries can get access to our portal,"" said Barthwal. Under the India-UAE free trade pact, government procurement contracts worth over Rs 200 crore are open to UAE-based firms on the same terms as Indian firms.