$10.4 billion (Rs 54,000 crore) deal ready to be sealed

India's much-delayed effort to upgrade the fighter aircraft fleet of the Indian Air Force is set to fructify soon. At present, a specially-picked team of the Ministry of Defence and the IAF is making final calculations to decide the winner of the $10.4 billion (Rs 54,000 crore) deal - the biggest single defence purchase by New Delhi.

Sources pointed out that it could just be a matter of days before the winner is announced. "It could be in the next 10 days," said an official indicating that the process which began in 2000 is being finalised.

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Posted in: India