Rafale deal finalised: India to buy 36 fighter jets from France for $8.8 billion

The France initially sought for 11 billion Euros for the sale of 36 automated Rafale jet with complete weapon systems. It is one of the biggest deal made by Indian Defence authorities in past two years.

New Delhi, April 15: A much-awaited and negotiated deal between India and France for 36 Rafale jets on Friday finaly ended for 7.8 billion Euros (US $8.8 billion), report said. The agreement between two countries is to be signed within three weeks and it will take at least 18-20 months for India to get the first lot of fighter jets.

The France initially sought for 11 billion Euros for the sale of 36 automated Rafale jet with complete weapon systems. It is one of the biggest deal made by Indian Defence authorities in past two years.

Last year in Paris, Prime Minister Narendra Modi confirmed India’s order of 36 ready-to-fly jets. Prior to that the Defence Ministry in India had sanctioned the purchase of 120 planes but the deal went into limbo after both sides were unable to agree on the unit price and the assembling of planes according to Indian defence demand. Read Also: (Pace of Rafale deal not enough: Manohar Parrikar)

The Rafale jets one of the finest fighter planes are made by manufacturer Dassault Aviation in France. When PM Modi visited France, both the countries agreed that the deal would be handled between their governments.

The Indian Air Force has stressed its need to start replacing its jets from 2017 to stay effective in front of neighbouring countries like Pakistan and China.

After the visit of French President Francois Hollande in India in January the deal was not finalised then Defence Minister Manohar Parrikar said that he is “a tough negotiator” and needed time to ensure a better deal.  The Indian Air Force officials have been repeatedly asking to urgently modernised its ageing aircraft fleet.