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Nirmala Sitharaman to ease defence tender rules for startups

DECCAN CHRONICLE.
Published Nov 29, 2017, 12:52 am IST
Updated Nov 29, 2017, 12:52 am IST
Nirmala on Friday said that her ministry is contemplating of easing tender processes to allow the participation of startups in defence production.
Ivanka Trump and Nirmala Sitharaman at the Taj Falaknuma Palace for the dinner on Tuesday.
 Ivanka Trump and Nirmala Sitharaman at the Taj Falaknuma Palace for the dinner on Tuesday.

Hyderabad: In an attempt to give a big boost to startup ecosystem, defence minister Nirmala Sitharaman  on Friday said that her ministry is contemplating of easing tender processes to allow the participation of startups in defence production.

Participating in a panel discussion with Ivanka Trump moderated by Cisco chairman John Chambers, Ms Sitharaman said she has convened a meeting of industry bodies to discuss this.

 

“We have finalised December 4 as the date when I will be discussing with chambers of commerce on how startups can participate in the defence ministry’s procurement process,” she said.

Under the existing rules, Ms Sitharaman said startup companies cannot take part in the tendering process unless they had been in such business for a certain number of years or have achieved certain amount of turnover.

Therefore, she said, the government is keen on easing rules that could restrict the participation of startups in the defence ministry’s tenders.

Speaking about the requirement of job creation, the minister said that people are aware that the government cannot all the jobs by itself and therefore we are facilitating entrepreneurs for setting up businesses and thereby creating jobs.

“We want to make sure that we ensure that these startups are given equal playing opportunities when tenders are given out by the government asking for people to supply (goods and services)," she added.

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