Srinagar, Nov 13 (KNO): In a significant step to empower the local economy, the Jammu and Kashmir government has unveiled the Draft Procurement Preference Policy for Micro and Small Enterprises (MSEs) for 2024.
As per the news agency—Kashmir News Observer (KNO), the groundbreaking initiative is designed to channel 30 per cent of the government procurement to registered local MSEs, offering them greater access to public sector contracts and fostering economic growth across the region.
The policy drafted by the Department of Industries and Commerce (I&C) aims to create an inclusive and supportive business environment for local enterprises.
It includes several key provisions aimed at providing MSEs with a competitive edge, such as a 25% price preference over non-registered suppliers. Additionally, local businesses will enjoy reserved procurement quotas and a simplified process for participating in government tenders.
To further reduce financial barriers, the policy offers local MSEs a waiver on Earnest Money Deposits (EMDs) and application fees, encouraging more businesses to compete for government contracts. Special provisions have also been made to support women-owned and SC/ST-owned businesses by reserving a portion of procurement for these groups, fostering diversity and inclusivity in the business landscape.
The Directorate of Industries & Commerce will act as the nodal agency for implementing the policy, assisting businesses in meeting quality standards through mandatory certifications and training.
The government has partnered with organizations like the Quality Council of India and IIT Jammu to provide vendor development programs, helping local MSEs improve product quality and qualify for the prestigious ZED (Zero Defect, Zero Effect) certification.
A key feature of the policy is the introduction of a digital dashboard that will enable real-time tracking and monitoring of MSE procurement. This platform will provide transparency, allowing businesses to access data on government purchasing trends and offer feedback. It will also serve as a tool for government departments to ensure compliance with the new policy.
To oversee the implementation, a UT-level review committee, led by the Principal Secretary of the Industries and Commerce Department, will be established. The committee will address grievances and track progress toward achieving the procurement targets, ensuring the policy’s effective execution.
The Jammu and Kashmir government is actively seeking feedback from MSE owners, industry associations, and other stakeholders to fine-tune the policy and ensure it meets the needs of local businesses. With this initiative, the government aims to foster economic self-sufficiency, promote fair competition, and create a sustainable growth framework for MSEs across the Union Territory—(KNO)
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- Gaurav Dewasi: With over 04 years of experience in the field of journalism, Gaurav Dewasi heads the editorial operations of the JK News Live as the Executive Writer
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Gaurav Dewasi: With over 04 years of experience in the field of journalism, Gaurav Dewasi heads the editorial operations of the JK News Live as the Executive Writer
