France’s Dassault sees Rafale accord with India in 4 weeks

Indian PM Narendra Modi (C) gestures while talking to French President Francois Hollande (R) as Indian Defense Minister Manohar Parrikar (L) looks on during the Republic Day parade in New Delhi, Jan. 26, 2016. After the bilateral talks, Modi said financial details need to be worked out in finalising the much-awaited purchase of Rafale jets from France, adding this would be concluded soon.

His visit had raised hopes of a conclusion to a long-delayed, multi-billion-dollar deal for New Delhi to buy 36 French Rafale jet fighters.

“With the exception of some financial aspects, both sides have signed an intergovernmental deal”. The inter-governmental agreement has been finalised.

While Hollande said he was “optimistic” about the inter-governmental accord being agreed on Monday, a senior French official acknowledged negotiations were still snagged on the price. Some of those will come from the joint ventures and partnerships envisaged during Mr. Hollande’s visit, on infrastructure such as railways, smart cities and renewable energy projects.

India’s military prowess and achievements in different fields, state-of-the-art defence, diverse cultural and social traditions and the government’s emphasis on self-reliance and indigenisation will be showcased at the Rajpath on the country’s 67th Republic Day today.

Indian Prime Minister Narendra Modi and French President Francois Hollande made the announcement during a joint news briefing in the Indian capital.

During a press conference, Hollande was reported by IANS saying that “I have visited India to strengthen the reinforce the co-operation and security against all kinds of terrorist threats prevailing as of now in both the countries”. This was for the first time in the history that men from a foreign military marched down the Rajpath during the Republic Day parade. The day marks the sovereignty of the country, as the Constitution of India was adopted on this day in 1950.

The French leader arrived Sunday in the northern city of Chandigarh, where Modi joined him and lauded France’s decision to invest $1 billion every year in India in various sectors.

The agreement for India to buy 36 Rafale fighters jets from the French company Dassault is in itself a watered-down version of a plan unveiled in 2012. Since then, however, the $9-billion deal has been hindered by financial considerations.