New Delhi, Nov 16: Foreign defence firms may soon be allowed to appoint agents but the companies will have to upfront mention the “reasonable” renumeration to be paid to them.
These agents will not be allowed to dole out any bonus or success fees, India’s Defence Minister Manohar Parrikar has said.
He said the government will not leave room for any “hanky-panky”.
He said that the new Defence Procurement Procedure will clearly define the role of agents.
Appointment of agents does not mean that defence firms are allowed to give commissions or something like that, the Minister said adding agents’ fees will have to be mentioned upfront and success fee, bonus or any such payments will not be allowed.