Jan. 15, 2011
-- India has significantly increased its budget for its defense and homeland security sectors, and is specifically looking toward US defense contractors to help upgrade its weapons systems and troop gear. As the competition to win these contracts intensifies, US defense contractors must know how to comply with India Ministry of Defense’s Defense Procurement Procedure (DPP) or risk lost business opportunities.
The DPP sets out rigorous requirements governing acquisition planning, RFP preparation, anti-corruption and third party relationships. In addition, since 2005, the DPP has required foreign suppliers to provide offsets for major defense contracts, such as local purchasing, indigenous content, co-production and technology transfers. However, strict US export controls and FCPA restrictions can limit a US defense contractor’s ability to meet these offset requirements. The consequences of non-compliance with US law could be staggering-including the threat of multi-million dollar penalties and possible imprisonment.
With lucrative contracts at stake, you cannot afford to miss American Conference Institute’s 2nd Industry Forum on “India Defense Procurement.”
This is the premier networking and benchmarking eventthat will take you through the ins and outs of the procurement process, local customs and regulations, as well as U.S. restrictions impacting your organization’
s ability to compete effectively.
Senior government, industry and private practice experts from India and the US will provide you with first-hand compliance insights and best practices for participating in the procurement process.
Read more about this at http://www.americanconference.com/blog
# # #
A unique organization, American Conference Institute is devoted to providing the business intelligence that senior decision-makers need to respond to challenges both here in the US, and around the world.