France-India finalise $9 billion 36 Rafale deal
The talks started in 2012 and France demanded $12 billion at that time.
Earlier, India planned to purchase 120 multi medium role combat aircraft (MMRCA) but later finalized to purchase 36 Rafale jets.
Indian Prime Minister Narendra Modi visited France in 2015 and hold talks about Rafale fighter jets.
The deal was expected to be inked during French President Hollande’s visit on Indian Republic Day but stuck over price issue.
This is a government-to-government deal and Dassault Aviation will manufacture the jets.
The agreement is not inked yet but expected within a month.
India’s defence ministry spokesman said “Negotiations are in the final stage. Nothing has been concluded so far.”
The first consignment is expected to be delivered by 2019.
India is the top buyer of foreign arms and also in negotiation with Lockheed Martin Corporation and Boeing aircraft manufacturer to set up manufacturing plant in India in compliance with ‘Make in India’ initiative.