Finally India might be buying 36 fighter jets from France based company Rafale, according to a NDTV report.
After months long back and forth negotiations, the deal is likely to struck. As per reports it will cost India about US $ 8.8 billion.
According to the report an agreement will be signed by India and Rafale makers in three weeks. If the deal is struck the first batch of aircraft is expected to arrive in India in about 18 months.
The delay in finally inking the deal was due to pricing of the fighter jets. While France was asking for about $12 billion for 36 fighters, India was bargaining for a lesser price.
India is buying Rafale fighter jets as India needs to upgrade its ageing fighter jets bought from Soviet Union.
India is overhauling its defence sector, which to a great extent has led to arms race in the South Asian region. Neighbouring Pakistan and Sri Lanka are buying weapons from different countries.
Last Updated 6:42 PM IST