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HindustanTimes Thu,17 Apr 2014

Rs.30,000-crore defence deal with France concludes

Jayanth Jacob, Hindustan Times  New Delhi, February 14, 2013
First Published: 10:59 IST(14/2/2013) | Last Updated: 00:42 IST(15/2/2013)

India and France on Thursday concluded negotiations for co-developing a short-range air defence system — worth around Rs.30,000 crore — and French president made a push for the sale of Rafale fighter jets to India.

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“Talks on the M-MRCA contract are progressing well. We have concluded negotiations on the SR-SAM, which, once approved by the government, will be co-developed and co-produced in India,” PM Manmohan Singh said.

The M-MRCA deal is worth over $10 billion.

“Both sides noted the progress of negotiations on the Medium-Multirole Combat Aircraft programme... steps are being taken for finalisation of the Short-range Surface to Air Missile project,” the statement said.

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