18 defence contracts signed with foreign vendors last yr

Image
Press Trust of India New Delhi
Last Updated : Aug 11 2015 | 4:42 PM IST
The government has signed 18 contracts with foreign vendors including those from USA, Russia, Israel, Germany, France and UK for procuring missiles, rockets and simulators etc in the last financial year.
Defence Minister Manohar Parrikar told the Rajya Sabha that 18 contracts were signed between May 2014 and February 2015 with foreign vendors.
"Contracts are executed as per terms and conditions incorporated therein. The 18 contracts were signed by designated officers as per provisions of DPP 2013 which do not require the presence of Defence Minister at the signing," he said.
He added that Defence Procurement Procedure (DPP) provides for direct dealing with the Original Equipment Manufacturers (OEMs) or authorised vendors or government sponsored export agencies (applicable in case of countries where domestic laws do not permit direct export by OEM).
It also states that vendor is required to give full details of any agents, technical consultants, authorised 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," he said.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 11 2015 | 4:42 PM IST

Next Story