Press Information Bureau
Government of India
Ministry of Defence
11-March-2016 16:16 IST
Futuristic Offset Policy

Futuristic offset policy is in draft stage at present. The new draft offset guidelines envisage targeted offsets, wherein, the desired outcome will be stated upfront in the RFP and the vendors have full flexibility on process to realize the outcome. Targeted offsets will include Transfer of Technology, development of ecosystem in defence manufacturing and creation of infrastructure for skill creation and development.

Ten (10) offset contracts have been signed since 2013 onwards, amounting to 1.56 BUSD. The offset discharge is spread till year 2022. The contractual offset obligations to be fulfilled by the vendors upto December, 2015 is USD 80.22 Million against which offset discharge claims worth USD 65.99 million have been reported (subject to Audit).

This information was given by Minister of State for Defence Rao Inderjit Singh in a written reply to Shri Kamlesh Paswan and others in Lok Sabha today.