(a) whether the Government proposes to formulate national offset policy to promote defence industry; and
(b) if so, the details thereof?
(a) whether the Government proposes to formulate national offset policy to promote defence industry; and
(b) if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF DEFENCE AND MINISTER OF STATE IN THE MINISTRY OF PARLIAMENTARY AFFAIRS (SHRI BIJOY KRISHNA HANDIQUE)
(a) & (b): An Offset clause has been included in the Defence Procurement Procedure 2005 (Capital Procurements) issued in June 2005. The offset amount will be 30 percent of the indicative cost of the contract, where such cost is Rs. 300 crore or more.