India: Open, competitive govt procurement seen saving up to 30% in costs

05 Nov 2018: Fair and transparent public procurement will protect the revenues of the state and make sure that they are used for optimal purpose and make sure that they are used for optimal purpose, minister of finance and corporate affairs Arun Jaitley said. It is estimated that competitive, transparent procurement could result in cost saving to the extent of around 20-30 per cent to the government, according to secretary, ministry of corporate affairs.