Weekly Current Affairs

Notice

  • An integrated facility will be commissioned by the Reliance Anil Dhirubhai Ambani Group and its French partner Dassault in Nagpur in the next few months for the execution of offset contracts of just-concluded deal for 36 French fighters.
  • A significant part of the whopping Rs. 30,000 crore offsets would be executed through the joint venture, Dassault Reliance Aerospace.
  • The new facility will come up in the Reliance Special Economic Zone (SEZ) in Nagpur, and it would be fully operational within the next 12 months.
  • The Dassault-Reliance JV will only execute a part of the offsets because some of the investments have to be done in DRDO for technology development.
  • Last month India and France concluded a €7.87-billion deal for 36 Rafale multirole fighter jets in a fly-away condition but it has a 50 percent offset clause under which that contract value has be invested and sourced from India.
  • The entire offset amount will not go into the private sector. As per agreement about 30 percent of the Rs. 30,000 crore i.e., about Rs. 9,000 crore has to be invested in Reseach & Development (R&D) along with the Defence Research and Development Organisation (DRDO) for technology development.