India, US closer to $5.8-billion Boeing C-17 Globmaster deal
22 Sep 2010
Government officials from India and the US are closing in on a $5.8 billion deal for 10 Boeing C-17 Globmaster III heavy transport planes, the largest Indo-US defence deal so far.
The deal is likely to be announced during President Obama's visit to India next month.
"India will receive the most advanced version of the C-17 available, which will include the latest upgrades and capability," said Vivek Lall, Boeing's vice president (defence space and security) India.
Boeing has sold 221 of its C-17 Globemaster planes to several countries, including the UK, Australia, Canada and Qatar, the company said.
India is expected to spend over $50 billion in the next five years to modernise its aging defence equipment, largely Soviet-era supplies, to upgrade its defences.
India is expected to finalise a deal to buy 126 fighter jets soon. Boeing's F/A-18 Super Hornet, Lockheed Martin's F-16 , France's Dassault Rafale, Russia's MiG-35, Sweden's Saab JAS-39 Gripen and the Eurofighter Typhoon, are in the running for the deal.