India, France seal $6 billion missile deal
14 Feb 2013
India and France today concluded negotiations on the short range surface to air missile worth nearly $6 billion even as New Delhi reiterated its commitment for early implementation of the Jaitapur nuclear power project and speedy conclusion of the over $10-billion Rafale fighter jet deal.
France and India are also expected to sign agreements on the Jaitapur nuclear power project, the proposed acquisition of 126 Rafale fighter jets and French technology for Indian Railways.
French President Francois Hollande, who is heading a large business delegation, including Dassault chief executive Eric Trappier, is expected to sign a series of agreements involving French technology and joint production of defence equipment in India.
The Rs30,000 crore ($6 billion) worth of SR-SAM project is a co- development joint venture between India and France and would be developed by MBDA of France and DRDO from the Indian side.
The surface to air missile defence system would be deployed by the IAF and the Navy.
Hollande, who arrived here early Thursday at the head of a high-level delegation which includes six ministers and a 50-member trade delegation, said France and India, which became strategic partners in 1998, are taking their relationship to "yet another stage".