France Cuts Price on Rafale Jets for India to $8.6Bln
16:56 25.05.2016(updated 17:08 25.05.2016)
Paris has agreed to decrease the pricing of its long-awaited deal on Rafale fighter jets with New Delhi by some 7-8 percent, local media reported Wednesday.
NEW DELHI (Sputnik) – The countries have been in talks on Rafales since 2012 but disagreements on the pricing and India's demands for additional guarantees have hindered the signing.
France's current offer stands at some 7.8 billion euros ($8.6 billion), the Indian Financial Express newspaper said, citing sources.
However, India's request for bank guarantees was declined by Paris, according to the media outlet.
In January 2016, India and France signed an intergovernmental agreement on the purchase of the 36 Rafale fighter jets. The French Dassault aviation manufacturer first asked almost $12 billion for the aircraft, while New Delhi demanded a 30-percent cut to the price.
© Sputnik
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