After having their proposed deal stalled for a couple of years, the US government has finally submitted an over $700 million offer for India to acquire 145 M-777 ultra-light Howitzers, according to The Times of India.
The contract with the US government involves a 30 percent offset clause, under which around $210 million will be invested back in India. The paper also reports that a government-to-government contract will be led within 180 days.
The US has overtaken Russia, Israel and France to become India’s largest arms supplier over the last four years, having bagged Indian arms deals worth over $13 billion since 2007.
The new development comes almost 30 years after the Bofors scandal in the 1980s.
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