The Indian government has ruled that companies belonging to the Finmeccanica group will no longer be able to submit offers for future contracts in India. The news comes following investigations by the authorities into an alleged payment of bribes on a helicopter supply order, which was later cancelled. Finmeccanica avoids commenting on the unfortunate news, but continues a positive day on the stock market, not experiencing negative repercussions in Piazza Affari.
The story began last January, when India canceled a 560 million euro order with AgustaWestland, a Finmeccanica subsidiary, for the supply of 12 helicopters, after the Italian justice system opened an investigation into the alleged payment of bribes to Indian officials in order to secure the contract. In any case, India will continue to honor contracts in progress, as well as those which require, even if completed, accompanying interventions. No retreat, therefore, from the Indian side - at least for now - but only a veto on future contracts.
However, the story risks causing damage on both fronts. On the one hand, it puts the Indian government in great embarrassment, on the other it could oust AgustaWestland from the huge and profitable Indian market.
