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The Union Cupboard chaired by the Prime Minister Narendra Modi has prolonged the coverage for offering choice to domestically manufactured iron and metal merchandise on Authorities procurement by 6 months with impact from Could 29, 2024, a gazette notification issued by the Ministry of Metal said on Monday.
The notification learn: “By way of the provisions of Para 10.1 of the revised Coverage for offering choice to domestically manufactured Iron & Metal Merchandise in Authorities procurement, revealed within the Gazette of India vide NotificationNo.3(2)/2018-IDD dated 29.5.2019 [G.S.R. 385(E)], the relevant time period of the Coverage is hereby prolonged for an additional interval of 6 months with impact from 29.5.2024.”
This coverage seeks to perform the PM’s imaginative and prescient of ‘Make in India’ with goal of nation constructing and encourage encourage home manufacturing.
As per an esrlier PIB launch, the coverage mandates to offer choice to Domestically Manufactured Iron & Metal Merchandise (DM1&SP), in Authorities Procurement. The coverage is relevant on all authorities tenders the place worth bid is but to be opened.
“DMI&SP coverage offers a minimal worth addition of 15 per cent in notified metal merchandise that are coated underneath preferential procurement. As a way to present flexibility, Ministry of Metal could overview specified metal merchandise and the minimal worth addition criterion,” the discharge added.
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