more-inPressure is mounting on India to open up its more than $300 billion-worth public procurement market under the proposed mega Free Trade Agreement (FTA) called the Regional Comprehensive Economic Partnership (RCEP). ‘Wont’ budge’The maximum extent that India could go to, is to agree to ensure transparency and cooperation in government procurement matters (including information exchange and sharing of knowledge) as part of the RCEP agreement, they said. India is not a signatory to the Government Procurement Agreement within the WTO framework because it wants to retain its policy space to meet its development needs through public procurement process. In May, the Indian government had brought out a policy providing preference in government procurement to local goods and services suppliers. Then in June, it came up with an order restricting or excluding from public procurement tenders in India, the firms from those nations where Indian suppliers are not allowed to participate and/or compete in government procurement process.

Source: The Hindu July 26, 2017 21:00 UTC