INDIA’S PENALTY LETTERS, WITHHELD PAYMENTS, AND DELAYED OFFSET CREDITS ARE HAVING “A CHILLING EFFECT”

India’s lack of clarity presents severe challenges to contractors attempting to secure and realise Indian offset credits. Rahul Madhavan, vice president, international development and strategy for the American multinational engineering firm AECOM, opened a discussion of the predicament, and spoke of a solution. “We are appreciative of offset banking, but what...

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