Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / World/  White House admin okays proposed sale of six P-8I patrol aircraft to India
BackBack

White House admin okays proposed sale of six P-8I patrol aircraft to India

The Defense Security Cooperation Agency delivered the required certification notifying the Congress of this possible sale on Friday

This proposed sale will support the foreign policy and national security of the United States by helping strengthen the US-Indian strategic relationship.Premium
This proposed sale will support the foreign policy and national security of the United States by helping strengthen the US-Indian strategic relationship.

The Biden Administration on Friday notified the Congress of its determination to sell six P-8I patrol aircraft to India for an estimated cost of USD 2.42 billion.

The Defense Security Cooperation Agency delivered the required certification notifying the Congress of this possible sale on Friday.

This proposed sale will support the foreign policy and national security of the United States by helping strengthen the US-Indian strategic relationship and improve the security of a major defensive partner, which continues to be an important force for political stability, peace and economic progress in the Indo-Pacific and South Asia region, the notification said.

The Indian Navy had procured eight P-8I aircraft from Boeing in January 2009 via direct commercial sale and contracted for an additional four aircraft in July 2016.

The first P-8I aircraft were delivered to the Indian Navy in 2013, providing critical capabilities to coalition maritime operations.

“This proposed sale of an additional six P-8I aircraft will allow the Indian Navy to expand its maritime surveillance aircraft (MSA) capability for the next 30 years. India will have no difficulty absorbing these aircraft into its armed forces. The proposed sale of this equipment and support will not alter the basic military balance in the region," said the notification.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 01 May 2021, 06:51 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App