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India to finalize deal on Rafale fighters purchase this fiscal

(Xinhua)

08:36, September 21, 2012

NEW DELHI, Sept. 20 (Xinhua) -- The Indian Air Force (IAF) would finalize the multi-billion-U.S.-dollar contract with Dassault Aviation of France during the current fiscal year which ends in March next year, for the purchase of 126 Rafale fighters, reported Indo-Asian News Service Thursday.

The report quoted Indian Air Chief Marshal N.A.K. Browne as saying Thursday in Bangalore, southern India that the negotiations are still going on with Dassault Aviation and India hopes the negotiations be finished and deal finalized in the fiscal year.

The 126 Rafale medium multi-role combat aircraft (MMRCA) are set to phase out the ageing MiG-21 fleet of IAF.

The deal is estimated at 20 billion U.S. dollars.

Of the 126 fighters, Dassault is expected to deliver 18 in fly- away condition and the remaining 108 will be produced jointly with India's state-owned Hindustan Aeronautics Ltd. at its Bangalore complex.

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