New Delhi, Feb 9 (KNN) Eyeing at exploring the various dimensions of procurement mechanism, the 3^rd Global procurement was inaugurated in the national capital recently.

The 2-day summit is being organized by the All India Management Association (AIMA) along with World Bank and Government of India. During the inaugural address, Union Minister Pon Radhakrishnan said that the government is committed to ensure transparency in public procurement.

Expenditure Secretary Ajay Narayan Jha who was also present during the inaugural said that the government has brought in a "paradigm shift" in procurement to ensure it is "fair and transparent" and includes an accountability process covering the entire value chain.

Over 200 officials affiliated with the procurement departments from across the world are attending the summit.

With a more engaged interaction and peer to peer dialogue during the summit, it is expected to bring in greater cooperation across nations and sectors in sharing knowledge on procurement and skills, the finance ministry said in a release.

The two day event has lined up speakers including government officials from India, the US and the UK besides senior leaders from the World Bank, public and private sector companies and global consultants. The theme of the summit is 'New Frontiers Faced in the Transformation Process of Procurement Today', the release further said. (KNN/DA)