BEL, Rosoboronexport Sign MOU On Offsets

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.