Neelam Mathews July 23, 2012 The much-awaited Defense Procurement Policy 2012 has been cleared by the Cabinet Committee on Security (CCS), Aerospace Diary learns. "The offsets policy will be released very soon. There were a few points that needed to be ironed out, a reason why it was late," a senior official in the MoD told Aerospace Diary. The policy will not be retroactive and will be valid from the date it is introduced, we are told. While the policy is expected to include transfer of technology (TOT), vendors remain unclear how this will be implemented without any body to monitor it nor the method of payment for TOT. The question of IPR also needs to be addressed. The 2012 USIBC advocacy agenda advancing the U.S. – India defense commercial relationship had asked for India to formulate a robust offset policy that promotes transparency and predictability, leading to a meaningful build-up of India’s indigenous industry capabilities ...
