NEW DELHI — Foreign companies likely will welcome India’s revised
guidelines for meeting defense offset obligations, announced Aug. 2 by
the Ministry of Defence, which offers simpler rules — including allowing
co-production and co-development in Indian defense projects to qualify
as offsets.
India requires overseas companies awarded defense contracts worth more than $55 million to fulfill offsets equal to at least 30 percent of the total value.
The new Defense Offset Guideline went into effect Aug. 1.
“The key objective of the Defence Offset Policy is to leverage capital acquisitions to develop Indian defense industry by fostering development of internationally competitive enterprises; augmenting capacity for research, design and development related to defense products and services; and encouraging development of synergistic sectors like civil aerospace and internal security,” the MoD said in its official news release.
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India requires overseas companies awarded defense contracts worth more than $55 million to fulfill offsets equal to at least 30 percent of the total value.
The new Defense Offset Guideline went into effect Aug. 1.
“The key objective of the Defence Offset Policy is to leverage capital acquisitions to develop Indian defense industry by fostering development of internationally competitive enterprises; augmenting capacity for research, design and development related to defense products and services; and encouraging development of synergistic sectors like civil aerospace and internal security,” the MoD said in its official news release.
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