India and France to begin Rs 50,000 crore deal negotiations for 26 Rafale Marine jets

New Delhi [India], May 28 (ANI): In a significant development, contract negotiations between the governments of India and France in the over Rs 50,000 crore deal for 26 Rafale Marine fighter jets is scheduled to begin on May 30 with the arrival of a high-level French team here.

The French side would meet with Indian Defence Ministry counterparts to begin official negotiations in the fighter jet deal for the Indian Navy under which aircraft would be operated from both aircraft carriers operated by the force, defence industry officials told ANI.

The French team will include officials from their defence ministry and industry including original equipment manufacturers Dassault Aviation and Thales, the officials said.

The Indian side would include members from the defence acquisition wing and the Indian Navy.

Sources in the government said that they would try to complete negotiations with France and sign the agreement by the end of this financial year.

France had submitted its response to India's tender for buying 26 Rafale Marine jets for the Indian Navy's aircraft carriers - INS Vikrant and INS Vikramaditya - in December itself.

The response to India's Letter of Acceptance had been submitted by France in New Delhi.

The Indian side has carried out a detailed study of the French bid for the Indian deal including the commercial offer or price for the aircraft, along with other details of the contract, they said.

India will now go in for tough negotiations in the deal with French government officials, as it is a government-to-government contract.

The Navy Chief has directed his team to ensure that the timeframe required for the project is squeezed significantly to ensure early finalisation and induction of the planes in the inventory.