Latest News – French defence firm Thales, a supplier of radar and electronic warfare, display systems, software, communication solution to Rafale jet fighters set up a joint venture with Anil Ambani’s Reliance Defence Ltd to integrate India-specific capabilities for 36 Rafale jet fighters and maintain radars and manufacture high-performance airborne electronics.
The Indian government signed a contract to purchase 36 Rafale fighter jets in fly-away condition for Indian Air Force in last September for $8.8 billion. The JV will also serve to leverage Dassault’s offset commitment as part of the deal for the supply of 36 Rafale fighter aircraft to IAF. The Rafale deal with French aerospace major Dassault had an agreement of 50 per cent offset clause which means that Indian companies will get businesses of around 74 per cent in goods and supply. The company in which Reliance Defence will hold 51 per cent stake will develop the technology at their facility at Mihan Special Economic Zone near Nagpur.
Anil Ambani, chairman of (Read More)