The investment will be part of the 30 percent offset policy. It envisages investing in about 40 Indian defence suppliers with an emphasis on the Defence PSUs and the MSME (Medium, Small & Micro Enterprises) sector. It also offers to establish an Assembly Integration and Test facility for the weapon system in India in partnership with an Indian industrial company.
    
"In discussion with the US government, BAE Systems has developed a strong case with a fully compliant offset proposal, which meets India's offset objectives, of over USD 200 million," Vice President (Business Development and Strategic Planning Land and Armament) BAE Systems, John Kelly said.
        
Talking about the proposed Assembly Integration and Test facility for the weapon system in India in partnership with an Indian firm, he said, BAE Systems has received interest from a number of companies. "BAE Systems is currently evaluating the proposals to identify the right company to establish this capability and to further the goals of India's offset policy," he said.
    
Defence experts revealed that Defence Ministry has put figure of deal at Rs 2,900 crore. Sources further added that this deal would be through Foreign Military Sales (FMS) but the "spares, maintenance and ammunition will be operated through Indian systems”.

Latest News  from Business News Desk