A "Buy India Act" in the offing ?
| The government is reportedly planning to bring out a new legislation as " Buy India Act" to ensure preferential buying of steel from domestic manufacturers in case of projects funded by it. This is in line with the existing US model called Buy American Act, which provides for preferential buying of steel only from American manufacturers for all US-government funded projects within the country. After all the politics of foreign aid programs in terms of statutory purchases from the same countries ( even employment of consultants ! ) are well known, many a time to the disadvantages of the aid-receiving countries .Better late than never, the GOI is waking up to face the WTO more effectively. |