The government is considering developing nationwide specifications for public procurement of goods by Central government agencies to encourage domestic suppliers to plan their production schedule, an official said.
The proposal is likely to be included in the new industrial policy being prepared by the commerce and industry ministry. The policy may also suggest extending the offset policy in public procurement in sectors beyond defence such as electronics and ICT.
The official said standardised specifications of products would enable government departments and public sector units (PSUs) to release large orders helping the industry achieve economies of scale.
The government and PSUs procure goods and services worth over Rs 5 lakh crore every year, as per estimates. Read More