Aerospace ind purchases likely to be worth USD 35 billion

Hyderabad, Δεκ 11 (PTI) Indian aerospace industry is likely to purchase equipment worth USD 35 billion over the next ten years, including aircraft, a top official said. Vivek Rae, General Manager (Purchase) under the Ministry of Defence said that Indian companies will receive at least U.S. $ 10 billion worth of defense contracts under the heading "offset clause" that mandates any foreign company that provides Indian defense contract should outsource 30 percent of the contract in Indian companies. "Indian aerospace industry will make purchases worth USD 35 billion over the next ten years. Medium Multi-role fighter aircraft market, will be approximately $ 15 billion," said Rae PTI on the sidelines of a seminar at the Indian School of Business. The Defence Ministry has shortlisted Dassault Aviation of France SA Rafale and Eurofighter EADS "Typhoon for the procurement MMRCA April. Commercial bids of the two shortlisted vendors began on November 4, marking the culmination of almost ten years hunting for new mainline fighter of India. He said the government had already signed a Rs 18 crore ((3,6 billion U.S. dollars) worth of defense contracts and Aerospace will be worth around Rs 14 crore. These contracts are expected to occur over the next 7-Jun years, Ray said.


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