Offset Agreement under Defence Procurement Procedure

December 14, 2009
Lok Sabha
About 10 offset contracts have been signed so far under the extant Defence Procurement Procedure. The companies with whom the offset contracts have been signed include M/s Rosoboronexport Russia, M/s RAC MiG Russia, M/s Fincantieri Italy, M/s Lockheed Martin USA, M/s Boeing USA, M/s Elta Israel, M/s Israel Aerospace Industries Israel and M/s Rafael Israel. The estimated value of the offsets involved in these contracts is over Rs. 8909 crores.

Implementation of the offsets is expected to result in expanding and enhancing the manufacturing infrastructure and technical knowledge necessary for indigenous manufacture of weapon systems required by the Armed Forces. The benefits of offsets accrue to both Defence Public Sector Undertakings as well as to private Indian Industry engaged in the manufacture of defence systems and equipments.

This information was given by Defence Minister AK Antony in a written reply to Gajanan D Babar and Sushila Saroj in Lok Sabha today.

Offset Agreement under Defence Procurement Procedure Offset Agreement under Defence Procurement Procedure Reviewed by Shailesh Kumar on 6:57:00 PM Rating: 5
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