Government procurement has emerged as a complex and crucial national and international trade policy subject in the contemporary era. The United States of America (US) and the European Union (EU) are recognised as economies with some of the most advanced procurement regimes. Globally, developing countries have struggled to develop robust procurement regulatory frameworks for government procurement. This paper analyses the evolution of procurement in the US and EU and the valuable lessons for developing countries willing to improve their procurement regimes. The findings will be helpful to achieve harmonisation of procurement rules at the international level and to promote efficacy in the procurement process at the domestic level.
Keywords: Public Procurement; US; European Union; Developing Countries; India