OPEN APP
Home >News >India >3 Rafale jets handed over to India, being used to train IAF pilots, technicians
India and France signed a €7.87 billion deal in September 2016 for 36 Rafale jets
India and France signed a €7.87 billion deal in September 2016 for 36 Rafale jets

3 Rafale jets handed over to India, being used to train IAF pilots, technicians

  • The first Rafale jet was handed over to India on 8 Oct
  • The first batch of 4 Rafale jets are to arrive in India by May 2020

NEW DELHI : Three Rafale fighter jets have been handed over to the Indian Air Force (IAF) and are being used to train IAF pilots and technicians in France, the government said on Wednesday.

The statement was made in response to a question in parliament, the defence ministry said in a statement.

India and France signed a €7.87 billion deal in September 2016 for 36 Rafale jets. While the first Rafale jet was handed over to India on 8 October, the first batch of four Rafale jets are to arrive in India by May 2020.

Meanwhile, in response to another question, the defence ministry said 21 offset contracts with a cumulative value of $ 5.67 billion have been sealed in last three years. Under India's offset policy, foreign defence entities have to invest at least 30% of the total defence contract value in India through procurement of components or setting up of research and development facilities.

“A study on impact of offsets on defence industrial base has been conducted by department of defence production through Institute for Defence Studies and Analysis (IDSA)," Minister of State for Defence Sripad Naik said in a written response in the Lok Sabha.

In May 2001, India opened up the defence sector for 100% Indian private sector participation while putting the cap on foreign direct investment (FDI) at 26 % subject to licensing. Over the years, the government expanded the FDI limit under the automatic route (i.e. without special clearance from the government) to 49 %.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My Reads Redeem a Gift Card Logout