Ballistic Armour Inserts
Night Vision Devices
Platform Systems Protection
With such horizons and scope, and a minimum 30% offsets obligation for winning big-ticket contracts for foreign suppliers, such obligations will play an imperative role in propelling India’s defence manufacturing industry in years to come.
The latest offsets policy guidelines introduced by the defence ministry in the beginning of 2018, provide even more flexibility and avenues to foreign OEMs to fulfil their offset obligations in India.
Some of the salient features of the latest revisions are:
Indian Government is focussed on indigenous manufacturing of critical defence equipment and technologies within India as it aims to reduce its defence budget by 50 percent within a decade through indigenisation. This need has resulted in the introduction of ‘Make in India’ program, various reforms in the procurement policy, as well as amendments in the offsets policy to focus on and promote indigenous manufacturing and transfer of technology and skills.
The ministry of defence has set an objective to achieve US $5 Billion of defence exports by 2025.
A spate of initiatives and reforms have been introduced and initiated in India to make India a new destination for defence manufacturing and exports.