Rafale deal concluded

Economics | :

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