Yet Another Delay in much awaited decision to award its $11 billion Indian Air Force Medium Multi-Role Combat Aircraft (MMRCA) Competition fighter jet deal, Indian government official said it will not sign a multi-billion dollar deal to buy fighter jets before this fiscal year ending in March.
Indian Air Force Medium Multi-Role Combat Aircraft (MMRCA) Competition will be one of the world’s biggest arms contracts. Four other contenders including F-16 and F-18(US), Gripen (Sweden) and MIG-35 (Russia) were rejected after grueling technical trials which had more than 600 parameters and Rafale and Eurofighter were selected as the final two contenders.
With both contenders clearing the technical trials, the decision will be based on which of the two is cheaper, not just in immediate capital costs but in long-term operating and maintenance costs. Only two defense manufacturing giants are left in the race, a four-nation consortium of EADS (EAD.PA), representing Germany and Spain, Britain’s BAE Systems (BAES.L) and Italy’s Finmeccanica (SIFI.MI) with its Eurofighter Typhoon fighter jet and France’s Dassault (AVMD.PA) with Rafale.