Global demand for valves to reach $75 billion by 2017
Jan 07, 2020
Government tenders need to have a higher mandatory local content and value addition requirements to support the growth of the domestic industry, a top industrialist has said.
“The mandatory local value addition requirement in government tenders can easily be upped to 70-75 per cent from the existing 25 per cent (in the oil and gas sector) to support the growth of the domestic industry. This provision should be enabled especially in strategic sectors such as oil and gas, and power,” Sanjay Kirloskar, Chairman and Managing Director of Kirloskar Brothers Limited, told BusinessLine.