Coronavirus Economic Package – Only Indian Companies To Be Allowed In Tenders Up To Rs 200 Crore: Centre

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The government announced steps to help MSMEs as part of its coronavirus economic package.

New Delhi:

The government will only allow Indian companies to participate in tenders up to Rs 200 crore, Union Finance Minister Nirmala Sitharaman announced on Wednesday along with a slew of measures to help micro, small and medium enterprises (MSMEs) battered by the coronavirus crisis.

“Indian MSMEs and other companies have often faced unfair competition from foreign companies. Therefore, global tenders will be disallowed in government procurement tenders up to Rs 200 crore,” Ms Sitharaman said.

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.

In an address to the nation, PM Modi said that the package was equivalent to nearly 10 per cent of India’s gross domestic product, and was aimed to push for a more self-reliant economy and help the crores out of work and the businesses reeling under the prolonged shutdown.

Author: ApnayOnline is an oline news portal which aims to provide latest trendy news around the Asia

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