UK access to India's procurement may hurt MSMEs, Make in India, warns GTRI

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UK access to India's procurement may hurt MSMEs, Make in India, warns GTRI - Business Standard

Quick Summary:

Economic think tank GTRI on Wednesday said allowing UK firms to participate in India's central government procurement tenders could crowd out MSMEs, which rely heavily on protected access to such contracts.

After the UAE, India has opened its central government procurement (GP) for British companies under the free trade agreement (FTA) announced on Tuesday, subject to certain conditions.

British firms can now bid for tenders, and those with just 20 per cent UK content will be treated as Class 2 Local Suppliers under India's Make in India policy.