Amid the ongoing tensions between India and Pakistan, after the Pahalgam terror attack that took place on April 22, India and France will be signing a Rs 63,000 crore deal for 26 Rafale Marine Fighter Jets on Monday.
Reports said that the 26 marine fighter jets are urgently needed to be deployed on Indian aircraft carriers, particularly INS Vikrant.
According to reports, the officials from the Indian Defence Ministry and the French Ambassador to India will be representing the two sides at the event. Defence Secretary Rajesh Kumar will likely represent the Indian side.
Meanwhile, the French and Indian Defence Ministers will be attending the event remotely. As per reports, several Government-to-Business (G2B) agreements are expected to be signed during the event. This, apart from the Government-to-Government agreement, that is already on the cards.
The Government-to-Government deal includes 22 single-seater and four twin-seater jets, along with a comprehensive package for fleet maintenance, logistical support, personnel training, and indigenous component manufacturing, News 18 reported.
The jets, which are a focus of today's deal, will be customised to cater to the Indian requirement. They will be integrated with INS Vikrant. India had cleared its largest-ever defence deal for the jets on April 9, during a Cabinet Committee meeting on security. The meeting was chaired by Prime Minister Narendra Modi.
This defence deal comes days after the deadly Pahalgam terror attack that claimed 26 lives in Kashmir. After the attack, tensions have been building up between India and Pakistan. India has taken several measures to retaliate against the attack. Meanwhile, Pakistan has been continuously violatingthe ceasefire across the LoC since the attack and has been met by swift and efficient action by the Indian Army.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.