• French firm Dassault Aviation bagged India's biggest-ever military contract for supplying 126 Rafale combat aircraft for the Air Force.
  • It edged out European rival EADS in the deal. French firm was declared as the lowest bidder. It will get the contract under India's defence procurement procedure. The deal is worth about ten billion dollars.
  • According to the Request for Proposal, the winner of the contract will have to supply 18 of the 126 aircraft to the IAF in 36 months from its facilities and the remaining would be produced at HAL facilities in Bangalore.
  • According to a statement issued by the French Embassy in New Delhi, President Nicolas Sarkozy expressed happiness at India's selection of the French fighter aircraft.