The Government of India amended General Financial Rules to make sure the goods and services that are of value less than Rs 200 crores are procured from domestic firms.
The GFR 2017 (General Financial Rules) have been amended by the Central Government.
Under the new amendment, global tenders henceforth will be disallowed in government procurement that are of value Rs 200 crores.
“Disallowing Global Tenders” is stopping foreign investments to a particular threshold to boost indigenous companies.