Topics
public procurement policy | free trade agreement | Trade exports
Asit Ranjan Mishra | New Delhi Last Updated at March 30, 2022 06:10 IST
https://mybs.in/2au78DD
Under the free trade agreement (FTA) between India and the United Arab Emirates (UAE), which will come into force on May 1, India has — for the first time —agreed to treat UAE firms on a par with domestic companies while bidding for tenders put out by certain central government departments and ministries for buying goods and services.
Let’s find out what this shift in stance in India’s foreign trade policy means. Why is the opening up of the public procurement market by India such a big deal? India’s public procurement market is estimated to be between …
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