New Delhi, July 14 (IANS) The Defence Acquisition Council (DAC) held its meeting here on Thursday and was briefed about the progress in the Rafale fighter jet deal by the committee negotiating its purchase, defence ministry sources said.
They said the DAC directed the committee to submit its report expeditiously.
The deal for purchasing 36 Rafale combat jets in fly-away condition was inked during Prime Minister Narendra Modi’s visit to France last April.
A negotiating team was constituted to decide on the deal and is holding talks with the French side.
The price has been a major sticking point in the deal with India trying to bring it down for the fighter jet known to be one of the most expensive in the world.
The deal comes with a clause for delivering 50 per cent offsets, expected to generate business worth at least three billion euros for Indian companies.