New Delhi, June 21 (SocialNews.XYZ) The Indian Railways has adopted a single-window system for approval of vendors for procurements. As per the new policy a vendor, approved for an item by any of the vendor approving agency shall be considered an approved vendor by all railway units for that particular item.
As part of the endeavour to enhance "transparency, efficiency" and ease of doing business, the railways had taken the step to ease the procurement system, the Indian Railways said in a statement.
As per the extant norms, the railways procure items from vendors approved by its nominated vendor approving agencies.
It would do away with the need of approaching multiple vendor approving agencies by vendors for participating in railways tenders and also increase competition in public procurement making it more economical and efficient, it said.
It would also promote use of manufacturing capacity of domestic industry and help the cause of 'make in India', the statement added.
Source: IANS
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