India & France to finalize two major defence deals worth over $10 billion

New Delhi: India and France are moving toward finalizing two major defense deals worth over $10 billion, with both nations deepening their military cooperation.

The agreements involve the purchase of 26 Rafale-M fighter jets for the Indian Navy’s aircraft carriers and three additional Scorpene-class conventional submarines.

The two deals are expected to be put before the Cabinet Committee on Security (CCS) for approval in the next couple of weeks, sources said.

The French President’s office has already announced that Mr. Modi has been invited for the Artificial Intelligence Summit scheduled to be held on February 10 and 11.

According to the sources, the expectation is that PM Modi will visit Paris to attend the AI Summit and will also have a bilateral component. So both sides are working to tie up the two deals which are in the final stages of conclusion.

France said the gathering will focus on concrete actions to ensure that the global AI sector can drive beneficial social, economic and environmental outcomes in the public interest.

On the Rafale-M deal, the Navy chief had said it was “one level short of taking it to the CCS (Cabinet Committee on Security)” for clearance, which will be followed by the signing of the contract. As it is a government-to-government deal, it is expected to be implemented quickly.

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