Offsets

Innovation using offsets

Offsets, in defense and civil trade, are essentially compensations that a procuring government or buyer seeks from the seller for the purchase of goods and/or services. A practice that originated in the 1950s, offsets have grown in stature over the years and is now evident in about 120 countries around the world, from a mere 20 from approximately 25 years ago. According to Marmore’s report on GCC Offsets, there are broadly two classes of offset programmes, i.e., Direct Offsets (DOs)...