India excludes EU from £38B public contract market
pre-market1 source ↓written by the desknot a recommendation
- public contract market
- £38 billion
- will be reduced
- 90% of goods
India's recent trade agreement excludes the EU from its £38 billion public contract market, reflecting a protectionist stance. This aligns with the 'Make in India' initiative, promoting local manufacturing and shielding domestic suppliers. While tariffs on over 90% of goods will be reduced, the public procurement barrier highlights strategic limits in market liberalization.
• Exclusion aims to bolster local industry
• Aligns with Public Procurement Order 2017
• Significant implications for EU firms in infrastructure and machinery sectors
Not investment advice. For informational purposes only.