Home » India more likely to finalise $2.5 billion deal to acquire 56 transport plane for IAF | India News

India more likely to finalise $2.5 billion deal to acquire 56 transport plane for IAF | India News

by newsking24

NEW DELHI: India is more likely to finalise within the subsequent few months a mega deal to acquire 56 transport plane for the Indian Air Force at a value of $2.5 billion, official sources stated on Tuesday.
The venture can be carried out by aerospace large Airbus together with an Indian entity as it will likely be carried out below the broad framework of the Make in India initiative within the defence sector, they stated.
As per selections, 16 C-295 transport plane can be equipped by the Airbus in flyaway situation whereas 40 planes can be manufactured in India.
The procurement course of for the plane has nearly been accomplished and a ultimate choice on the deal is more likely to be made quickly, stated a supply.
In a report, the defence ministry stated the case of procurement of 56 C-295 from Airbus with participation of an Indian manufacturing company for manufacture of 40 plane in India is on the approval stage. A contract is more likely to be signed within the close to future.
“The case is first of its kind which envisages participation of private companies and would prove to be a boost for our defence industry,” it stated.
The authorities is procuring the plane to interchange the IAF‘s Avro planes.
The defence ministry has been giving ultimate touches to plenty of long-pending procurement tasks to spice up India’s total army functionality.
Last month, the defence ministry authorized procurement of weapons and army gear price Rs 28,000 crore, together with six airborne warning and management system plane, for the Indian Air Force.

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