India launches new search for Fighter Aircrafts

The Indian Air Force has launched a new search for fighter planes.

The deal, which is estimated to be worth USD 15 billion for 114 aircraft, is currently the largest aircraft deal of this size in the world.

It has attracted the attention of various major defense corporations in the world like the Lockheed Martin & Boeing of the United States and Saab of Sweden. Other defense manufacturers like the United Aircraft Corporation (UAC) of Russia, Eurofighter of European Union and Dassault of France may also participate in the tender.

The UAC now holds the aircraft companies which were earlier known as Mikoyan (MiG) of the MiG series aircraft and Sukhoi- the makers of Su-30MKI.

An earlier tender awarded to Dassault Aviation(France) for 126 Rafale jets worth $11 billion in 2015 after a tendering process that took nearly a decade was scrapped.

Modernizing the country s defense forces is critical for PM Modi as barely any new major arms deals were signed during his first term.

The country needs at least 45 squadrons to deal with the twin threats of Paksiatn and China but has barely 30 (and still reducing).

In one small deal, Modi s administration bought 36 jets ( 2 squadrons worth of Rafales) separately.

If the new tender is awarded, the winner will have to deliver the first jet within three years of securing the contract and ensure that at least 85% of production has to be in India.

India has a requirement of over 400 aircraft (fighter jets) for its navy and its Air force.