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…

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