Inclusion of Exchange Rate Variation (ERV) clause for supply of Machine Tools to Indian Ordnance Factories.
After persistent efforts of IMTMA with Ministry of Defence, the Government of India has considered industry's request for inclusion of Exchange Rate Variation (ERV) clause for supply of machine tools to Indian Ordnance Factories.
Amendments have been introduced in the relevant portions of the 'Procurement Manual for Plant & Machineries' of Indian Ordnance Factories.
The Ordnance Factory Board and Ministry of Defence, Government of India has announced the "Provision for Exchange Rate Variation for supply of P&M by Indian manufacturers". Click here to download the circular.
Indian Machine Tool Manufacturers’ Association; Head Office : 10th Mile, Tumkur Road, Madavara Post, Bengaluru, Karnataka (India) 562123; Regd. Office : Plant No.13, Extension Office, Godrej Campus, Vikroli East, Mumbai – 400079
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