Govt issues new domestic procurement norms for 49 steel products

06 Jan 2021 Editorial Team

Atmanirbhar Bharat took the next incremental step yesterday, as the government mandated the use of domestically manufactured metal and alloy items. Per this directive, locally made metal products should be preferred in public projects.

Such preference will be accorded to 49 domestically manufactured iron and steel products in public contracts. These products include:

Pipes
Railway coaches
Railway tracks
Containers
Rolling stock
Wires
Tables and household items
Tanks

In essence, this means that project managers need to revise their procurement norms. The norms apply to all central schemes.

The norms will apply to procurement exceeding Rs 5 lakh for local body projects. The government has specified minimum local value addition ranging from 20% to 50%.

“Domestic” will be interpreted on the basis of whether a company is incorporated in India.

Imports are restricted from countries that preclude Indian companies from procurement processes. This could mean a retaliation against countries like China, where Indian companies have complained of unfair treatment. While the World Trade Agreement (WTO) guidelines could see this move as restrictive, India did not sign the public procurement agreement.

Procurement managers, including public ones like the Railways, have previously argued that domestic capacity in steel items is limited. Experts have repeatedly called for domestic capacity augmentation. More immediately, steel prices have been climbing steeply. Some experts say prices will continue to rise for a few months.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..