Six major western industry associations have written to the Indian Ministry of Defense asking for measures to ease their prospects for commerce in defense equipment, including elimination of the ceiling on Foreign Direct Investment as well as capping financial penalties.
Tag: Defense Offsets Facilitation Agency
FICCI: Industry Calls for Dedicated ‘Offsets Authority’
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•Even as Indian industry argues for dedicated ‘Offsets Authority’ and an institutional mechanism to ensure a transparent and appropriate valuation for technology transfer to raise the capability of the domestic defence manufacturing industry, the Ministry of Defense has decided to strengthen the monitoring mechanism for the implementation of offsets.