India News | Public Procurement: DPIIT Releases Registration Format for Bidders from Neighbouring Countries
Get latest articles and stories on India at LatestLY. The commerce and industry ministry has come out with a registration format for bidders from nations sharing a land border with India who want to participate in the country's public procurement process.
New Delhi, Aug 25 (PTI) The commerce and industry ministry has come out with a registration format for bidders from nations sharing a land border with India who want to participate in the country's public procurement process.
On July 23, the government had mandated that any entity from a country sharing a land border with India will be eligible to bid in any procurement process for goods or services only if it is registered with the competent authority.
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The decision was taken amid the border standoff with China.
"Accordingly, the bidders, who have beneficial ownership in countries which share land border with India and intend to participate in public procurement in India, may submit application for registration in the format...," the Department for Promotion of Industry and Internal Trade (DPIIT) said in an office memorandum.
The bidders are also required to submit an application for security clearance, as per the format.
The validity period of the registration would be 12 months from the date of issue of the registration letter.
"However, in case of appointment of new director(s)/ new shareholders with more than 10 per cent shares/ change in controlling ownership interest or control through other means, the registration shall stand cancelled," it added.
In such cases, bidders will be required to apply for fresh registration.
The list of bidders who have been registered with competent authority shall be displayed on the DPIIT portal.
The government has amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of national security.
As per the format, a bidder has to submit details of beneficial ownership; manufacturer/service provider/contractor; details of item for which registration is sought; financial details for the last five fiscal years duly certified by a practicing chartered account in India; and details of contracts received in the last five years in India.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)