Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What was the major revision made to the DMI&SP Policy in December 2020?
What was the major revision made to the DMI&SP Policy in December 2020?
- Excluded capitals goods from the policy coverage
- Increased minimum prescribed value addition for domestically manufactured iron and steel products (correct)
- Expanded the list of covered products to 50 items
- Reduced the domestic content requirement to 10%
Which entities are included in the DMI&SP policy?
Which entities are included in the DMI&SP policy?
- All private sector companies
- Every Ministry or Department of Government (correct)
- Manufacturers outside the country
- Non-profit organizations
How did the new list of 49 products affect the competition for government contracts?
How did the new list of 49 products affect the competition for government contracts?
- Made it harder for imported steel to compete (correct)
- Excluded iron and steel products from government procurement
- Reduced the minimum value addition requirement
- Opened up more opportunities for foreign companies
Which schemes come under the purview of the DMI&SP Policy?
Which schemes come under the purview of the DMI&SP Policy?
Signup and view all the answers
Why was the DMI&SP Policy introduced in the first place?
Why was the DMI&SP Policy introduced in the first place?
Signup and view all the answers
What is the minimum procurement value of iron and steel products for the policy to be applicable to projects?
What is the minimum procurement value of iron and steel products for the policy to be applicable to projects?
Signup and view all the answers
Under what circumstance can Global Tender Enquiry (GTE) be invited for tenders related to procurement of iron and steel products?
Under what circumstance can Global Tender Enquiry (GTE) be invited for tenders related to procurement of iron and steel products?
Signup and view all the answers
What is the purpose of the DMI & SP Policy?
What is the purpose of the DMI & SP Policy?
Signup and view all the answers
What is the function of the Steel Import Monitoring System (SIMS)?
What is the function of the Steel Import Monitoring System (SIMS)?
Signup and view all the answers
How much import substitution has the DMI&SP Policy resulted in approximately?
How much import substitution has the DMI&SP Policy resulted in approximately?
Signup and view all the answers
