Union defence ministry inks Rs 21,000 crore deal with Airbus for 56 IAF planes

The Union defence ministry on Friday inked the over Rs 21,000 crore (around $3 billion) contract with Airbus Defence and Space (Spain) to acquire 56 C-295 medium transport aircraft to replace the old Avro planes of the IAF. Airbus will deliver 16 of the twin-turboprop C-295MW aircraft in a flyaway condition within two years, with the remaining 40 being manufactured in India by the Tata Consortium under a joint industrial partnership within 10 years.

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