India signs Rs 63,000-crore deal to purchase 26 Rafale fighter jets for Indian Navy: 10 key takeaways

The Narendra Modi 3.0 government on Monday said it had signed an inter-governmental deal with France to procure 26 Rafale-Marine fighter jets—a carrier-borne combat-ready aircraft—for the Indian Navy. The deal—involving 22 single-seater and four two-seater aircraft—was estimated to be worth Rs 63,000 crore. The arrangement is set to give more teeth to the Indian Navy amid growing concerns over China’s maritime presence in the Indo-Pacific region.

Raksha Mantri Rajnath Singh and Minister of Armed Forces of France Sebastien Lecornu signed the agreement in the national capital, the signed copies of which were exchanged by officials from both sides in the presence of Defence Secretary Rajesh Kumar Singh.

The news sent a number of defence stocks soaring on Monday.

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Here are 10 important things to know about this development:

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