Procurement norms relaxed for startups

Initiative aims to create conducive environment for startups to access markets and compete with biz effectively

- USHA PERI @ Visakhapatnam

IN a move to bolster innovation and support budding enterprises, the Government of Andhra Pradesh has announced relaxation of public procurement norms for DPIIT (Department for Promotion of Industry and Internal Trade) recognised startups registered in the State.

This initiative aims to create a conducive environment for startups to access markets, and compete with established businesses effectively. The decision comes in light of challenges faced by startups in securing government contracts due to stringent tender criteria, such as prior turnover requirement and experience as well as mandates for Earnest Money Deposit (EMD).

Recognising the vital role of government procurement in the economy, it intends to provide preferential access to these startups, enabling them to leverage innovative solutions for improved public service delivery.