Centre extends electronics contract timelines 2-4 months, denies price hikes to Acer, Samsung, Lava
Finance ministry invokes force majeure over Iran conflict to grant delivery extensions on $8 billion in government electronics contracts, but refuses price revisions despite doubled memory chip costs. Public procurement drives ~15% of vendor revenue in a $55 billion market.
Finance ministry grants 2-4 month delivery extensions on government electronics contracts citing force majeure from Iran conflict, but denies price revisions sought by Acer, Lava, Samsung India amid doubled memory chip costs and logistics pressures.