India tweaks policy, allows leasing of military gear
India’s new defence acquisition procedure abolishes offsets in government-to-government and single-vendor deals. The 15-year-old 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, officials admitted.
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India’s new defence acquisition procedure abolishes offsets in government-to-government and single-vendor deals. The 15-year-old 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, officials admitted.
