Indian offset rules rejigged




A new offset rule from the Indian MoD states that any foreign company winning a contract of over $60 million must re-invest at least 30% of the contracts value back into the Indian economy. The offset, presented in a memo from the defence ministry, is designed to encourage technology transfer to the Indian defence sector. The new ruling will prevent companies from counting research and design, software testing and training as part of their offset requirement, as has previously been the ca...
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