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Casing pipe companies keep Chinese off ONGC tender-IV: New Make in India policy, how will it impact industry?
Apr 13: Even as Indian casing pipe manufacturers have emerged winners against their Chinese counterparts, the Union cabinet has cleared a policy that calls for public sector oil and gas companies to incorporate a compulsory local content caveat in their purchase policy.
8The Policy will be applicable for five years. A steering committee will be constituted to oversee implementation of the Policy and carry out annual review and recommend continuation of the policy from year to year basis.
8Under the Policy, the targets of Local Content (LC) will be stipulated for certain oil and gas business activities.
8The manufacturers/ service providers who meet the local content targets and whose quoted price is within 10% of the lowest valid price bid would be eligible for purchase preference for a stipulated portion of the purchase order on matching such price.
8How will such a policy impact the oil and gas industry?
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