New Delhi, Aug 25 : The Department for Promotion of Industry and Internal Trade (DPIIT) has laid down the norms and the format for registration for bidders from countries sharing a land boundary with India, wanting to participate in the public procurement process or government projects in India.
In an office memorandum, the department under the Ministry of Commerce and Industry said the bidders having beneficial ownership in countries which share land border with India will be eligible to bid in public procurement, only if they are registered with the "competent authority".
Such bidders will have to submit an application for registration and another for security clearance.
The validity period of the registration shall be 12 months from the date of issue of registration letter, the notification said.
"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.
In such cases, bidders will be required to apply for a fresh registration," it said.
The list of bidders who have been registered with competent authority shall be displayed on the website of DPIIT.
The government has already amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India.
The decision is likely to impact countries from China and the northern neighbour has raised its concerns regarding the change in rules.
India's stance gains more significance post the recent border tensions and the diplomatic standoff between the two countries.
During the period, India has taken several measures impacting Chinese companies, ranging from banning several Chinese apps on the pretext of national security and cancellation of severaltenders awarded to Chinese companies for government projects.
--IANS
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Source: IANS
