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.

“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.