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India tweaks defence offsets policy, allows leasing of military equipment - GKPro News Breaking

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India tweaks defence offsets policy, allows leasing of military equipment

India’s new defence acquisition procedure (DAP) abolishes offsets in government-to-government and single-vendor deals. The 15-year-old offsets policy, under which at least 30% of the total contract value had to be ploughed back into India as re-investments, “loaded extra costs” into contracts while failing to bring critical military technology into the country, MoD officials admitted.

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Sep 29, 2020 - 02:17

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India’s new defence acquisition procedure (DAP) abolishes offsets in government-to-government and single-vendor deals. The 15-year-old offsets policy, under which at least 30% of the total contract value had to be ploughed back into India as re-investments, “loaded extra costs” into contracts while failing to bring critical military technology into the country, MoD officials admitted.