The Cabinet Committee on Security on Wednesday gave its go-ahead for a `17,000 cr deal for the procurement of 56 C-295MW transport aircraft from Airbus Defence and Space SA Spain.
Sixteen aircraft will be procured off the shelf within 48 months of signing of the contract and 40 aircraft will be manufactured in India by TATA Consortium within ten years of signing of the contract.
This is the first time that a military aircraft will be manufactured in India by a private company. All 56 aircraft will be installed with indigenous Electronic Warfare Suite. The project will give a boost to the aerospace ecosystem in India. Detailed report on P4