Modi to 'Amazonise' US$400b in procurement
New system allows vendors to bid for any government purchase and is designed to leave a digital trail
Add BT as a preferred source
New Delhi
INDIA'S Prime Minister Narendra Modi plans to move all government purchases, from paper clips to power plant turbines, to an Amazon-like online marketplace that could eventually be worth a fifth of the country's US$2 trillion economy.
Mr Modi's government, which on Nov 8 announced a sudden decision to replace 86 per cent of India's cash in a bid to cut corruption and move to a cashless economy, has much riding on the new online market, which has already traded 390 million rupees (S$8.15 million) since it began in August. "This provides India an opportunity for transformation," said Rita Teaotia, the top bureaucrat in India's commerce ministry.
Share with us your feedback on BT's products and services
