In a landmark move, the procurement policy division of the Union Ministry of Finance has sanctioned a comprehensive training program in public procurement to the Indian Institute of Management Visakhapatnam (IIMV). This initiative makes IIMV the first Indian Institute of Management in the country to offer such a capacity-building programme. The new program is set to annually train around 600 officers from the Union government, Central public sector enterprises (CPSEs), and other government agencies at the IIMV campus in Visakhapatnam, with the first batch expected to commence in July.
IIM Visakhapatnam has previously collaborated with the Central Vigilance Commission (CVC) to deliver exclusive capacity-building programs in public procurement. To date, the premier business school has successfully trained nearly 280 functionaries from various public sector undertakings, banks, insurance companies, and other government organizations through nine cohorts under the CVC-supported initiative.
Reportedly, in anticipation of the finance ministry’s public procurement program, IIMV recently hosted a curtain-raiser event in New Delhi. The event’s purpose was to inform the top leadership of public sector undertakings (PSUs) about the new training initiative and its potential benefits. Public procurement practices and procedures are becoming increasingly crucial, in India, with government procurement constituting about 30% of the country’s GDP. The program aims to enhance capacities in tendering, procurement contracts, and dispute resolution, promoting open, transparent, and competitive procurement processes.
The curtain-raiser event in Delhi featured notable speakers, including Soma Mondal, a member of the Public Enterprises Selection Board (PESB) and former chairperson of the Steel Authority of India, and Sanjay Aggarwal, advisor in the procurement policy division of the Ministry of Finance. These speakers sensitized senior functionaries from various organizations on the importance of public procurement and encouraged their participation in the upcoming training program in IIMV.
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