The long-awaited deal between India and France for 36 Rafale fighter aircraft has been finally inked on Friday Sept. 23 between defence minister Manohar Parikkar and his French counterpart Jean Yves Le Drian. New Delhi on Wednesday cleared the deal amid indications that the French government waived off the advance guarantee, allowing India to save $150 million.
The $8.8 billion deal is crucial for the Indian Air Force that is grappling with a drawdown of its fighter fleet. Defense officials feel the purchase of Rafale jets would bolster the country's military image in the region and help modernize Indian military's ageing fleet of combat aircrafts.
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