New Delhi, July 27 -- A parliamentary committee has raised concerns over the implementation of India's defence offset policy, noting that foreign military suppliers have yet to fulfil obligations worth about Rs 42,500 crore (around USD 4.5 billion).

In a report tabled in Parliament, the Public Accounts Committee (PAC) said nearly 45 per cent of offset commitments under 26 ongoing contracts remain pending, despite the policy being in place since 2005.

Shortfall in Current Contracts

The panel noted that total offset obligations under these contracts stand at USD 9.9 billion, of which only USD 5.46 billion-around 55 per cent-has been discharged so far. The remaining USD 4.48 billion is yet to be fulfilled.

Overall, 56 offset contracts wo...