New Delhi: In a major development, India and France are believed to have finalised the multi-billion Rafale fighter jets deal.
NDTV reported on Friday that the deal under which India will acquire 36 Rafale fighter jets from Dassault Aviation has been finalised for a sum of EUR 7.8 billion (around Rs 59,000 crores).
Defence Minister Manohar Parrikar had recently said that the deal will be finalised soon.
The first deliveries are expected to start by 2019 after the deal is officially signed, which is likely to happen in about a month's time.
Dassault had recently revised down the deal price of EUR 11.6 billion (Rs 85,000 crores) with 2015 as the base year for fixing the price for each aircraft manufactured, to EUR 8 billion (Rs 65,000 crores) with 2011 as the base year.
In 2015, the Indian government had withdrawn the tender to procure 126 multi-medium role combat aircraft (MMRCA). Rafale had been chosen as the jet India would buy.
Shortly after, during Prime Minister Narendra Modi’s visit to France in April 2015, India had decided to purchase 36 Rafale fighter jets in a government-to-government deal to boost the depleting fighter squad strength of the Indian Air Force.