Covid-19 Tenders: New Opportunities For Indian Contractors Other Services

Majority of the businesses have faced new challenges in addition to the pre-existing ones during the Covid-19 pandemic. Despite the fact, there were many opportunities that slipped out of hand, the Atmanirbhar Bharat Abhiyan, launched by our Prime Minister, Narendra Modi, generated many opportunities for local businesses. The current tenders also got a boost due to the introduction of this scheme. The situation of tenders got harsh initially during the beginning of the pandemic. Some of the instances are as follows:

a. Indian depository receipts (IDRs), a kind of security with shares listed abroad as its underlying, were terminated by Standard Chartered. These shares were to be sold at the London Stock Exchange (LSE).

b. The necessary documentation that was needed to complete the tender processes could not be completed due to lockdown.

c. A lot of offline work could not be completed as a big team was required, which was not possible during the lockdown.

d. Tendering shares got very tough for the companies during Covid-19. They were not only facing trouble in selling securities to investors in this unstable market but also finding it difficult to get investors to tender them.

Considering the situation during the first lockdown, the current tenders are in a better position now. The Government Procurement is gaining its pace with time and some of the new opportunities that came along are as follows:

a. Current tenders are mainly focused on the medical field. A massive number of Covid-19 tenders for rapid test kits were invited by the Ministry of Health and Family Welfare.

b. The demand for masks rose to a great extent after the medical communities announced that it was an essential preventive measure. The investments in these industries also increased.

c. The order for hand sanitizers has increased to 100x since the coronavirus outbreak started and the local tenders saw a considerable rise for them.

d. Online tutorials/ Edtech- the Edtech sector was of significant help during the pandemic. There was a substantial overnight rise in the number of users. This also helped to show a large segment of the illiterate population what future education looks like.

e. Touchless dispensers were usually found at high-end places before. Many entrepreneurs started exploring this business during the lockdown, and it started appearing almost everywhere. Starting from sensor-based to automatic foot sanitizers, these have been on the list of current tenders.

Conclusion:

Shifting to online mode indeed changed a lot, exposing people to a variety of opportunities. Many new changes did come up, which helped numerous people in these difficult moments. India’s local market got a huge boost due to the Abhiyan, opening new doors in the tender market. TendersOnTimeis a Global Tenders provider that gives you the leverage to choose from a variety of tenders online. All types of tenders published by any tender issuing authority from everywhere in the world are available with us. To get the latest information on online tenders, bidding and government contracts you can Subscribe to our basic or premium plan.