MoD released two amendments to the offset policy in the week:
- OEMs can request for change of IOP; Work package and Re-phasing within the period of performance for the offset contracts under previous DPPs and the approving authority for this will be the Secretary DP. The process for seeking changes to signed offset contracts is likely to be more transparent and speedy.
- In ‘Buy Global’ categories, for an Indian firm or a JV the threshold of Indigenous contents for offset has been brought down from 50% to 30%.
Source:The amendment letters are at www.mod.nic.in