Key Points
India has updated its application format for bidders for public procurement to include beneficial ownership details of those in countries that share a land border with India..
Bidders now need to provide details of manufacturers, contractors and technology transfer providers, with specifications of sensitive sectors and technologies for security clearances..
An office memorandum of the DPIIT stated that as per the revision, bidders have to provide details of manufacturer, service provider, contractor and entity providing transfer of technology (ToT) if they are different from bidder, for security clearance...
The details which the bidder has to submit include name of the company and individual who are the beneficial owner of the bidding company, country of registration, details of intermediary companies between the bidder and beneficial owner, and a chart depicting the link between them also need to be submitted along with full name, date of birth, passport and contact details of board of directors...
In April 2020, the government made its prior approval mandatory for foreign investments from countries that share a land border with India to curb opportunistic takeovers of domestic firms following the COVID-19 pandemic...
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Tech transfer details must for public procurement bids by border nation companies
04, May, 23India has revised registration requirements for bidders seeking to participate in public procurement with beneficial ownership in countries that share a land border with the country. Applicants have to submit one hard copy to the Department for Promotion of Industry and Internal Trade. As per the revised format, bidders must provide details of manufacturers, service providers, contractors, and entities providing transfer of technology (ToT) (if different from the bidder) for security clearance.
PSUs, Govt bodies sensitised to Chinese investment, tech
07, Jun, 23PSUs have also advised not to source from China for sectors such as atomic energy, broadcasting, print and digital media. defence, space, and telecommunications. Certain other sectors including power, civil aviation, mining, railways, health, and urban transportation are also considered sensitive where procurement from China has been discouraged, ET has learnt.