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Global defence giants submit offset proposals for MMRCA deal

Global defence giants submit offset proposals for MMRCA deal
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First Published: Mon, Aug 04 2008. 04 48 PM IST
Updated: Mon, Aug 04 2008. 04 48 PM IST
PTI
New Delhi : Days after India came out with an investment-friendly weapons procurement policy, many global armament companies today submitted proposals to the government offering increased investments, export creation and partnership in building the Indian aerospace industry.
Six leading military jets manufacturing companies came out with proposals for comprehensive industrial participation in the Indian defence industry as part of obligations to meet their defence offsets clause in the estimated $10 billion Indian contract to purchase 126 Medium Multi Role Combat Aircraft (MMRCA).
Under the country’s Defence Procurement Procedure, all foreign companies bidding for major Indian defence contracts worth more than Rs300 crore have to invest 30 to 50% of the order in Indian defence sector.
The companies which submitted offset investment proposals ranged from American aviation and defence giants like Lockheed Martin, Boeing, European consortium EADS, French fighter maker D’assault, Russian MiG-Mapo corporation and the Swedish company SAAB.
The Lockheed Martin, which is bidding with their world seller F-16 Fighting Falcon for the Indian MMRCA contract have proposed more investment, manufacturing, export creation and joint development of defence systems.
Its American rival Boeing, a frontline global aviation company, promises to chip in for development of Indian aerospace industry and seeks New Delhi’s help in building up the company global competitiveness and growth through strategic partnerships with Indian industries.
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First Published: Mon, Aug 04 2008. 04 48 PM IST