OEMs Unhappy That Relaxed Indian Offset Policy Is Not Retroactive AINONLINE by NEELAM MATHEWS July 12, 2012, 11:00 AM Recent upgrades to India’s Defense Procurement Policy ( DPP ) 2011 that are to be incorporated in DPP 2012 could soon allow foreign vendors to buy from Indian companies assemblies that contain foreign content while getting credit for the entire assembly, as long as the content is paid for in rupees. The period of time allowed for the discharge of offset obligations is also being extended by two years, up to four, and that for the banking of offsets from five to seven years. A multiplier of factor 1.5 will be permitted through a non-equity route for offset obligations relating to direct exports, foreign direct investment, transfer of technology ( TOT ) or investment in kind. While the objective is to ensure establishment of a consistent, authoritative, empowered offsets agency serving as a ...
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