TIL Desk/Business/New Delhi-India and France have signed the Euro 7.8 billion (Rs 58,363 crore) deal for 36 Rafale jets which will come equipped with latest missiles and weapon system, giving the IAF a cutting edge over arch rival Pakistan. The deal for the aircraft, the first fighter jet deal in 20 years, was signed in the presence of Defence Minister Manohar Parrikar and his French counterpart Jean Yves Le Drian.
Also present will be the chief executive officers of top French companies, including Dassault Aviation, the makers of Rafale. The deal comes with a saving of nearly 750 million Euros (Rs 5,611 crore) than the one struck during the previous UPA government, which was scrapped by the Narendra Modi government, besides a 50 per cent offset clause.
These combat aircraft, delivery of which will start in 36 months and will be completed in 66 months from the date the contract is inked, come equipped with state-of-the-art missiles like ‘Meteor’ and ‘Scalp’ that will give IAF a capability that had been sorely missing in its arsenal.
