French President Francois Hollande has said his government plans to strike a deal that would allow the government of India to buy 36 Dassault Aviation-built Rafale aircraft from France for approximately $9 billion, Reuters reported Sunday.
“It is this intergovernmental agreement that will allow a commercial transaction,” Hollande said Sunday during his three-day visit to India, according to the report.
Sanjeev Miglani writes Indian Prime Minister Narendra Modi has initiated efforts to facilitate business with French firms through defense technology deals in an effort to promote India’s domestic manufacturing sector.
Helene Fouquet also reports on Bloomberg that Hollande said the two countries are still in talks over the price of the fighter jets and that he was “optimistic” that a deal could be signed Monday.
A senior defense official for India told Bloomberg that India and France have reached an agreement on an option for the sale of 18 additional Rafale combat planes to India.
The two countries have also identified the type of weapons, systems and equipment that would be installed on the fighter planes, the official added.
