30,000 crore offsets would be executed through the joint venture, Dassault Reliance Aerospace. Four French companies which have a major stake in the Rafale deal — Dassault Aviation, Thales, Safran and MBDA — will execute offsets worth about Rs. Another 10 percent is held by several other French companies based on their contribution. The JV was needed as Dassault India, a service-oriented company, cannot take up manufacturing which will be done by the JV. “There will be several Independent Offset Partners (IOPs) through the JV,” industry sources said.

Source: The Hindu October 23, 2016 20:03 UTC