India's Prime Minister Narendra Modi is likely to sign a major defence deal with France to buy 60 Rafale fighter jets in a joint press conference with French President Francois Hollande in Paris on Friday.
Three squadrons of about 60 jets are to be bought in a new contract between the Government of India and Government of France, CNN IBN reported Friday.
The deal is worth over $4 billion and it overrides the MMRCA process in which Dasault Rafale was lowest bidder for 126 aircraft. The final MMRCA deal is yet to be signed as both the nations have some differences over the final amount.
India is keen in finishing the acquisition before 2017 when a large number of old MiG squadrons will have to be phased out.
Modi arrived in France on Thursday night, the first leg of his three-nation tour. During his four-day stay, Modi will hold talks with Hollande and meet business leaders. The focus of the talks will be civil nuclear, defence and trade.