Major defence firms including Singapore Technologies, IMI of Israel, Swiss Rheinmetall and Corporation Defence of Russia were the four foreign companies which were blacklisted by the UPA government for their alleged role in the OFB scam in 2012.
A request has been received from Singapore for removal of the ten-year ban on ST Kinetics and it is under consideration of the government, Defence Ministry sources told PTI here.
The issue of removal of the Singaporean firm is understood to have come up for discussion during talks between Defence Minister Arun Jaitley and his Singaporean counterpart.
ST Kinetics was taking part in tenders to supply light howitzers, all-terrain vehicles and assault rifles to the Indian armed forces when the government put on hold the deals with it and later barred it for doing business for 10 years.
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In the talks, India and Singapore discussed ways to enhance defence cooperation and "continue the robust engagements and to continue to work together to further substantiate defence interactions in the areas of mutual benefit."
Singaporean armed forces use Indian military bases for training its military personnel under a pact signed between the two countries.