"Show sharp teeth for the first time!" Indian media: Indian defense ministry severely warned more th

Original title: "show sharp teeth for the first time!" Indian media: Indian defense ministry severely warned more than 10 international arms giants
[global network reporter Zhang Haichao] India's Ministry of defense has recently been exposed to attack foreign arms giants for failing to fulfill their offset obligations in defense transactions with India. It has threatened to ban an American company and put another 11 American, French, Russian and Israeli companies on the watch list for punishment. The Indian media did not specifically announce the names of these foreign military enterprises in the report.

According to the report on the website of the times of India on August 30, according to "top sources", the Indian Ministry of defense has sent a stern message to some (foreign) arms companies that have repeatedly asked for an extension of time to fulfill their offset commitments, and they will no longer operate as usual (in India).
A source said that this is the first time that the Indian Ministry of defense has displayed its "sharp teeth" in this way. A warning has been issued that if these companies do not perform their offset obligations in time, their performance bank guarantees in other contracts may be confiscated or deducted from scheduled payments.
"If these options do not apply to a company, there will be a notice showing the reasons why it should not be prohibited. The problematic U.S. company is challenging its injunction notice. It has sent five or six notices to fulfill its offset obligation earlier. The Indian Ministry of defense has strong facts, "the source added.
It is reported that according to the defense offset policy first promulgated by India in 2005, at least 30% of the total contract amount in a defense transaction must be reinvested in India as reinvestment. In some contracts, the offset amount is set at 50%. For example, in 2016, India spent 590 billion rubles to purchase 36 Rafale fighters from France.
Overall, so far, India has signed about 55 defense offset contracts with a total amount of about US $12 billion (about 876 billion rupees). But so far, foreign arms companies have only "returned" about $5 billion, some of which are still under clarification or review, an Indian official said. This figure should be higher now, "but these companies are procrastinating in fulfilling their contractual obligations".
The report mentioned that in a report submitted to the Indian parliament last September, the Comptroller and auditor general (CAG) of India called for major reform of the whole offset policy, emphasizing that it "has hardly achieved the purpose of introducing advanced technology, attracting foreign direct investment and consolidating the foundation of domestic defense industry".
Indian defense ministry officials acknowledged that foreign arms companies "increased additional costs" in contracts, usually raising prices by about 8-10% to meet their offset commitments.