Offset clause spawns pacts for local players

The offset policy of the Union government has almost made it imperative for the international firms seeking to supply defence equipment to the Indian defence forces to search for local partners.

Apparently, this has turned out to be a bonanza for the domestic companies in the aerospace and defence space.

Within the two days of Aero India 2007, at least a dozen of such partnerships have been announced, while many more are in the pipeline. However, most of these partnerships do not have any real focus.

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