Reliance, Dassault Aviation ink deal to set up joint venture


Posted on:04 Oct 2016 10:35:07

Reliance, Dassault Aviation ink deal to set up joint venture
04 October 2016 Current Affairs: Anil Ambani led Reliance Group and French aerospace giant Dassault Aviation have signed deal to set up a joint venture called Dassault Reliance Aerospace. 

The Dassault Reliance Aerospace will execute offsets for the recently concluded India-France deal for 36 Rafale fighter jets. It will be the largest offset contract to be executed by any defence company in India. The contract value is estimated up to Rs. 30,000 crore.

The proposed strategic partnership between Dassault and Reliance will also focus on promoting research and development (R&D) projects under the IDDM program. IDDM stands for Indigenously Designed, Developed and Manufactured. 

It is programme on the lines with the new provision introduced in Defence Procurement Procedure (DPP) 2016. The JV will focus on aero structures, engines and electronics and intends to infrastructure and supply chain in India for the aerospace sector.

In September 2016, India and France had signed an Inter-Governmental Agreement (IGA) for 36 Rafale multi-role jets in fly-away condition worth €7.87 billion (about Rs. 59,000 crore). 

The deal has a 50% offset clause to be executed by Dassault Aviation and its partners in India. Through the offsets, government seeks to bring in much needed expertise to build the domestic defence and aerospace industry.


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs June 2017

22 JUNE
NEWS
21 JUNE
NEWS
20 JUNE
NEWS
19 JUNE
NEWS

Current Affairs May 2017

31 MAY
NEWS
30 MAY
NEWS
29 MAY
NEWS
27 MAY
NEWS

Current Affairs April 2017

29 APRIL
NEWS
28 APRIL
NEWS
27 APRIL
NEWS
26 APRIL
NEWS