Offsets fail to take off with merely 20% completion rate in a decade

Defence offsets may be at the centre of the Rafale deal controversy but the initiative aimed at boosting the Indian manufacturing sector through contracts from foreign vendors has not really taken off since 2008, the latest government numbers indicate.

The offsets route — which mandates foreign companies outsource at least 30% of the value of large contracts to India  — had been estimated to bring in $11.2 billion over the 2008-2024 period, calculations by the defence ministry show. However, with more than half the period over, barely 20% of this target has been met and efforts to liberalise the policy have stalled after the Rafale controversy.

In data shared with the parliamentary standing committee on defence, the government stated that until the end of 2017 Read More

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