In a big boost to ‘Make-in-India’, the Cabinet Committee on Economic Affairs on April 12, 2017 approved a policy under which manufacturers or service providers in oil & gas sector, who meet the local content targets and whose quoted price is within 10 pc of lowest valid price bid, would be eligible for 10 pc purchase preference, on matching L1 price (see box). However, the policy will be applicable to the state-owned oil and gas companies only.
