India's Modi wants more technology transfer from global defense firms

February 18, 2015 7:20 AM

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India's Modi wants more technology transfer from global defense firms

BENGALURU, INDIA (Reuters) - India's prime minister has asked global defense contractors to transfer more technology to the country as part of the lucrative deals that they win to modernize its armed forces.

The country's offsets policy, which requires contractors to invest a percentage of the value of the deal in India, will be tweaked to encourage more technology transfer, and less simple assembly or production, Narendra Modi said at the opening ceremony of the Aero India airshow at Yelahanka air base...

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