Indian enterprises and institutions and establishments engaged in manufacture of eligible products and/or provision of eligible services, including DRDO, are referred to as the Indian Offset Partner (IOP).
The key objectives of the Defence Offset Policy is to leverage the capital acquisitions to develop Indian defence industry by fostering development of internationally competitive enterprises; augmenting capacity for research and development in defence sector and to encourage development of synergistic sector like civil aerospace and internal security. The offset can be discharged by many means such as direct purchase of eligible products/services, FDI in joint ventures and investment towards equipment and transfer of technology. As per Defence Offset Guidelines, the foreign Original Equipment Manufacturer (OEM) is free to select any Indian company as its offset partner.
The Indian offset partner shall, besides any other regulations in force, also comply with the guidelines/licensing requirements stipulated by the Department of Industrial Policy and Promotion as applicable.
Advantages of partnering with Miracle as Offset partner for Indian Defense:
- Proven Industry Capability
- Consistent R&D
- Equipped with all necessary Quality Certifications including AS 9100D, ISO 13485:2016, ISO 9001:2015, Conformity for CE Marking, UL recognition for Insulation system for Transformers, UL recognition for Wire Harness & Cable Assemblies (Looms), CE Compliance, RoHS Compliance, REACH Compliance
- Complete adherence to offset obligations
- Advantage of 1.50 multiplier as Miracle is a registered Offset MSME Partner – in the discharge of offset obligations
- Extensive interaction and improvisation experience with the Technical Offset Evaluation committee
- Extensive exposure to preparation of detailed offer specifying the value of the offset components, with a breakdown of the details and phasing
- Extensive experience in preparing monthly Offset Reports in stipulated format
- Compliant with all requisite Indian regulations and contract requirements
- We, very meticulously, account business need of customer and assure satisfaction
- Miracle can bring cost savings by building in efficiency through Integrating main and offset programmes for cost efficiency – in consultation with the Partner