Defense Offset Commitment In Last 15 Years Stands At $ 6.83 Billion
NDTV
Replying to a question, Minister of State for Defence Ajay Bhatt said offset claims worth 82.13 per cent of the total offset commitment have been submitted till August 1.
The total value of defense offset commitment that needed to be implemented over the last 15 years has been estimated at USD 6.83 billion, the government said in Lok Sabha on Friday.
Replying to a question, Minister of State for Defence Ajay Bhatt said offset claims worth 82.13 per cent of the total offset commitment have been submitted till August 1.
The figure of the total offset commitment of USD 6.83 billion is also till August 1.
Under India's offset policy, the foreign defence entities, for all contracts worth Rs 2000 crore or more are mandated to spend at least 30 per cent of the total contract value in India through procurement of components, transfer of technologies or setting up of research and development activities.
