India has excluded Bangladesh from its latest trade restrictions imposed on the businessmen of its neighbouring countries.
The restrictions, mainly aimed at Chinese businessmen, was imposed through an amendment to the General Financial Rules after the recent border clash between India and China.
However, by a separate order issued last week, countries namely Bangladesh, to which Government of India extends lines of credit or provides development assistance have been exempted from the requirement of prior registration, a spokesperson of the Indian High Commission told the FE.
Relaxation has also been provided in some limited cases, including procurement of medical supplies for containment of COVID-19 global pandemic until December 31 of this year.
The Department of Expenditure of India issued a detailed order on public procurement outlining the restrictions.
As per the order, any bidder from countries sharing a land border with India will require registration and permissions from several agencies to bid in the procurement of goods, services or work (including turnkey projects).
Political and security clearance from the Ministries of External and Home Affairs will be mandatory for the bidders.
The order takes into its ambit public sector banks and financial institutions, Autonomous Bodies, Central Public Sector Enterprises (CPSEs) and Public Private Partnership projects receiving financial support from the Government or its undertakings.
