Thursday, April 22, 2021
Home Uncategorized No more commissions for arms agents: Parrikar

No more commissions for arms agents: Parrikar

Panaji: Arms agents earning sales commissions could soon be passe, Defence Minister Manohar Parrikar said, adding that agents would have to be paid fixed fees while representing foreign defence manufacturing companies.

Parrikar, who was speaking during a public interaction event near here, late on Sunday, also said that guidelines for foreign defence manufacturing companies to enlist arms agents will be issued by the third or fourth week of October.

“Giving percentage is very risky in India. Money can be paid to various people through this percentage, so we are permitting agents, but not by way of percentage or success fee or failure penalty. By fixed amount reasonable payment to the agency, you can keep an agency for following up your work,” he said.

“Amended new guidelines will start coming from the third or fourth week of this month, they are under final drafting. I feel that agents can be there as a supplementary supporting technically or administratively to the companies, because foreign companies may not be able to keep an office for every supply they make,” the defence minister said.

 

(IANS)

STAY CONNECTED

19,507FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Does Congress Party Have A Future In Face Of Modi Onslaught?

It was India’s “Grand Old Party.” The Congress Party ruled the country for 55 out of 71 years since independence. But following the party’s...

WHO: An Initiative To Halt The Transmission Of Malaria By 2025

The World Health Organization (WHO) is launching a new initiative that aims to halt the transmission of malaria in 25 more countries by 2025....

Largest Flare Ever Recorded From The Sun’s Nearest Neighbor

Scientists have spotted the largest flare ever recorded from the sun's nearest neighbor, the star Proxima Centauri. Proxima Centauri is a small but mighty...

Understanding Obsessive Compulsive Disorder (OCD)

BY- JAYA CHOUDHARY Many of us have our own unique habits and practices that we follow on a regular basis, such as bringing a lucky...

“Bangladesh: The Price of Freedom”: Relive The Horrors Of Bangladesh Liberation

Ace photographer Raghu Rai was only five years into the profession when the Bangladesh liberation struggle erupted in March 1971. He was dispatched post-haste...

What Makes SARS-CoV-2 More Deadly?

Researchers have found that the cell types, which the SARS-CoV-2 -- the virus behind Covid-19 -- infects, make it more deadly. The study, led...

UI , Auto Zoom And More Will Be Introduced By Google In Meet App

Google has announced to introduce new innovations in its Meet app like a refreshed user interface (UI), autozoom, enhanced reliability features powered by the...

What Effect Does CBD Oil Have On Testosterone Levels?

By- Harper Deym Researchers have been looking at the possible health effects of CBD since it became legal in the United States. We will have...

Recent Comments