DELHI: Indian Railways has launched a transparent vendor registration system that will allow small and medium enterprises to become a railway vendor. The system will be completely online and railways would have open electronic bidding for all items it procures.
Indian Railways has an annual procurement bill of Rs 50,000 crore every year, reports The Economic Times.
Railway claims that the move would benefit lakhs of new vendors who wish to do business with railways.
“Monthly payments would be made by railways as per timelines and it would also mitigate the risk of a few companies having monopoly in rail supplies,” rail ministry spokesperson Anil Saxena said.
“Vendor need not come to RDSO for any activity related to his case for registration. All activities in vendor registration cycle have been tied to specific timelines and in case these activities exceed the allotted timelines, a system generated alert is flashed to all concerned officials and higher ups for immediate corrective action in the matter,” Saxena said.