Our Bureau
10:29 AM, January 25, 2016
India, France Ink Rafale Fighter IGA, Financial Terms In Couple Of Days
French President Francois Hollande With Indian Prime Minister Narendra Modi

India and France have inked a Inter-Governmental Agreement on the multi-billion dollar 36 Rafale fighter deal.

“Leaving out financial aspect, India and France have signed IGA on purchase of 36 Rafale fighter jets,” Indian Prime Minister Narendra Modi said at the press briefing after the MoU for the fighters was signed with French President Francois Hollande Monday.

“We expect that even the financial aspects pertaining to purchase of Rafale jets will be resolved as soon as possible,” he added.

Hollande said that the financial issues over the Rafale aircraft deal will be resolved in a "couple of days".

The contract is still to be finalized based on the financial negotiations. "This is a political agreement opens the possibility of concluding trade negotiations. In India, the stateis very present. If there was no agreement among governments, there would be no agreementbetween industries," the French Minister of Finance, Michel Sapin was quoted as saying by French news daily LeMonde Sunday.

"The state (India) apparatus is quite fragmented. When you have an agreement for a branch of government that does not mean that you have the agreement of all the branches. The process is extremely complex and slow. There is no anomaly, but we are faced with a government that consults minister after minister and each reinstruct administration while at the base,” a senior defense official was quoted as saying by the news daily.

Refering to the negotiation process, Le Monde newspaper whose correspondent is accompanying the French President, reported, "Hollande is counting on Le Drian to advance in the meanders of a political, military and bureaucratic system where there is.," according to a French official, "the dictatorship of the rubber stamp ".

Quotes from Le Monde newspaper have been translated from French.

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