India revises offset guidelines
By: Neelam Mathews New Delhi 53 minutes ago Source: FlightGlobal India's new revised defence-offset guidelines will be applied to all contracts awarded after 1 January 2011. They reinforce the nation's focus on augmenting capacity for research and development, fostering the development of internationally-competitive enterprises and also give a boost to the civil aviation and homeland security sectors. However, the roughly $16 billion medium multi-role combat aircraft (MMRCA) deal to be covered under India's restrictive 2006 policy will not reap any advantage. Disappointment expressed by a French analyst says it all: "Imagine you were condemned to death for whatever reason. Then a new legislation in your country abolishes the death penalty. Would you be happy if the new rule was not retroactive?" There is good news for international original equipment manufacturers (OEM) eyeing India's penchant for arms that include 197 light helicopters for the army,...