- News: India and France on Friday concluded an Inter-Governmental Agreement for the purchase of 36 Rafale fighter jets to cost the nation Euro 7.87 billion
- Deal includes the 36 aircraft, weapons, spares, support and maintenance and the jet will be customised as per the requirements of the IAF
- France has to ensure that 75% of the fleet i.e. 27 fighters are operationally available at any given time
- 50% offset clause: French industry will invest half the contract value back in the country which is expected to develop some expertise domestically in the aerospace sector
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