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France and India sign MoU for the purchase of 36 Rafale fighter aircraft

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World Defense & Security News - France and India
 
 
France and India sign MoU for the purchase of 36 Rafale fighter aircraft
 
India and France on Monday signed a memorandum of understanding on the purchase of Rafale combat jets, with Prime Minister Narendra Modi saying they had reached an inter-governmental agreement and the “financial aspects will be sorted out soon”, the Indian newspaper Hindustan Times announced.
     
France and India sign MoU for the purchase of 36 Rafale fighter aircraft 640 001A French Air Force Rafale multirole fighter aircraft
     
The two countries were struggling to nail down a deal for India to buy 36 Rafale fighters jets made by the French company Dassault, which is in itself a watered-down version of a plan first unveiled in 2012.

We are very happy that we have formed an agreement for purchase of 36 Rafale aircraft with France,” Modi said at a joint address with French President Francois Hollande after 13 agreements including the Rafale MoU were signed. “We will resolve the financial aspects soon,” he said.

France and India have a strategic partnership of 18 years. We have a partnership branching out to various fields,” he added.

Hollande’s visit had raised fresh expectations that the Rafale deal would be finalised after years of tortuous negotiations.

I am honoured to welcome you as our guest for the Republic Day celebrations in Delhi… President Hollande is a very close friend of India,” Modi said.

Hollande earlier vowed not to let threats deter France from its fight against terrorism on Monday, the second day of an official visit to India focused on security and trade.

Modi has said he invited Hollande to India as a show of solidarity after the assault on the French capital, which killed 130 people and evoked memories of the even deadlier 2008 Islamist attacks on Mumbai.

French companies will invest $10 billion in India over the next five years, chiefly in the industrial sector, French finance minister Michel Sapin said.

Over the last five years, French companies have invested more than $1 billion per year in India,” Sapin said in a speech to the Federation of Indian Chambers of Commerce and Industry in New Delhi. “We estimate that they will continue to invest at least $10 billion over the next five years.

(Source: The Hindustan Times)