Six global cos submit their proposals

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Six global cos submit their proposals
Political Bureau
Posted online: Tuesday , August 05, 2008 at 22:52 hrs
Updated On: Tuesday , August 05, 2008 at 22:52 hrs

New Delhi, Aug 4 Six global companies on Monday submitted their proposals to the Centre to increase their participation in the Indian defence industry as part of their bids for the Indian Air Force (IAF) order for the 126 MMRCA. This comes in the wake of the government’s new investment-friendly weapons procurement policy.

The deal is worth $10 billion and 50 percent of this has to be reinvested in India as part of the offset obligations of the manufacturer that gets the IAF nod.

The IAF had floated its request for proposal (RFP) last August and these are currently being evaluated, after which the aircraft will be put through field trials before the eventual winner is selected.

The companies which submitted offset investment proposals ranged from US based

Lockheed Martin and Boeing Company; European consortium EADS, French fighter maker D’assault, Russian MiG-Mapo corporation and the Swedish company SAAB.

The Lockheed Martin, which is bidding with their F-16 `Fighting Falcon’ for the MMRCA contract have proposed more investment, manufacturing, export creation and joint development of defence systems. Its rival Boeing, a frontline global aviation company, has promised to chip in for development of Indian aerospace industry and has sought New Delhi’s help in building up the company global competitiveness and growth through strategic partnerships with Indian industries.

Source
http://www.financialexpress.com/news/Six-global-cos-submit-their-proposals/344534/#