Govt Proposes To Widen Scope To Fulfil Offset Obligations By Foreign Defence Firms


The Defence Ministry has proposed amendment in the existing offset policy to provide additional avenues for foreign defence companies to invest a percentage of the value of a military deal in India. The ministry has made public the draft amendment in the offset guidelines and sought opinion of the stake-holders on it.

According to the defence procurement procedure, foreign arms manufacturers and vendors are mandated to invest a percentage of the value of any deal above USD 50 million in India.

The draft amendment says aerospace and internal security related enterprises will be allowed to fulfil their offset obligations through investment in defence-related infrastructure projects such as setting up of testing labs and skill centres, officials said. Read More…

You may also read!

Imran Khan go back: Massive protests humiliate Pakistan PM in POK

He claims to be a well-wisher of Kashmiri people but Imran Khan's false wishes cut no ice with the

Read More...

NASA Contractors Share the Grief of Chandrayaan-2 Failure

The Defence Ministry on Friday clarified there is no proposal to privatise the Ordnance Factory Board (OFB) whose employees

Read More...

Army to get indigenous tank ammunition

The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, on Friday approved indigenous development of ammunition for

Read More...

Leave a reply:

Mobile Sliding Menu