Modi Government Signed 18 Contracts for $20.1 Billion in its First 9 Months

The Defense Ministry of India has signed 18 international contracts worth $20.1 billion between May 2014 and February 2015. The contracts were signed with armaments manufacturers from USA, Russia, the UK, Israel, Germany and France reports Defense World.

“Defense Procurement Procedure details direct dealing with the original equipment manufacturers, authorized vendors or government sponsored export agencies (applicable in case of countries where domestic laws do not permit direct export by original equipment manufacturers),” Defense Minister Manohar Parrikar said.

“It also provides that vendor is required to give full details of any agents / technical consultants / authorized vendors that may have been appointed by them for marketing of this equipment in India. These details should include the scope of work and responsibilities that have been entrusted with the said party in India,” Parrikar added,

Parrikar’s comments possibly display a changing mind set in the ministry regarding the employment of middlemen in potential defense deals on the basis of full disclosure.

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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