Committee formed on lines of WTO’s Government Procurement Agreement

GPA: Government Procurement Agreement

Commerce department joint secretary Amar Sinha at a seminar on the WTO's Government Procurement Agreement (GPA) in March 2011 spoke on the committee formed for government procurements based on global best practice. The Indian Prime Minister constituted a committee to suggest rules and regulations for government procurement based on global best practices.

World Trade Organisation's GPA is a forum for interested members to work out a pact for opening up and increasing transparency in government procurement. As per estimates made by the competition commission of India India's public procurement system accounts for 8 lakh crore of business every year, which is roughly 30% of the country's GDP. India is likely to have assured access to other parties procurement markets and would also be shielded from possible protectionist measures if it becomes a GPA member. The US recently imposed a 2% import duty on government procurement from countries that are non-GPA members. India is currently not a member of GPA, it only has a observer status.