As many as 21 defence offset contracts with a cumulative value of approximately US $ 5.67 billion have been signed by the Ministry of Defence (MOD) in the last three years, the Rajya Sabha has been informed,
“MOD has assigned a study through the Institute for Defence Studies and Analysis (IDSA) to ascertain the impact of offsets on Indian defence industrial base. The interim report has been received,” said Minister of State (MoS) for Defence Dr Subhash Bhamre in a written reply to a question of Ritabrata Banerjee in the Rajya Sabha.
An offset agreement is a type of side deal, sometimes best described as a sweetener. This is an agreement between two or more parties that provide additional benefits and is ancillary to another negotiated contract. Read More