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11:41 AM, March 29, 2016
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BEL, Rosoboronexport Sign MOU On Offsets
EL-Rosoboronexport MoU at Defexpo 2016

India’s Bharat Electronics (BEL) and Russia's Rosoboronexport have signed a Memorandum of Understanding (MoU) for the joint development of various sub-systems of defense projects under the Offset clause at Defexpo India 2016 today.

Under the framework of this MoU, BEL and Rosoboroneexport will co-operate for the joint development of various sub-systems of major Defence projects under the Offset clause of the Defence Procurement Procedure (DPP) of the Ministry of Defence, Government of India. The industrial tie-up will cater to the requirements of all the three arms of the Indian Defence forces, as well as the civilian sector, BEL said in a statement Tuesday.

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