India to Finalise Major Defence Contracts by March 31

The Times of India reports that India is set to finalise four major defence contracts worth over ₹1.5 lakh crore (around $18 billion) by March 31, including deals for fighter jets, submarines, helicopters, and artillery.

The first deal involves a ₹63,000 crore ($7.6 billion) agreement with France for 26 Rafale-Marine fighter jets, set to operate from the indigenous INS Vikrant. The deal also includes 22 single-seat maritime jets, four twin-seat trainers for the Navy, weapons, simulators, crew training, five-year performance-based logistics support, and spares for the 36 Rafales already inducted by the Indian Air Force (IAF). This contract is now headed for final approval from the Prime Minister-led Cabinet Committee on Security (CCS).

Another deal with France for three additional Scorpene-class submarines, worth ₹38,000 crore ($4.6 billion), is also on the cards.

Additional contracts include 156 Prachand light combat helicopters for ₹53,000 crore ($6.4 billion) and 307 advanced towed artillery gun systems (ATAGS) for ₹8,500 crore ($1 billion).

The Prachand helicopters, designed for high-altitude operations, will be manufactured by Hindustan Aeronautics Limited, complementing the 15 already inducted under a 2022 contract.

Meanwhile, Bharat Forge and Tata Advanced Systems will produce the ATAGS, with Bharat Forge set to handle 60% of the production. Work is underway to revise the Defence Acquisition Procedure-2020 to streamline procurement timelines and processes.

According to The Times of India, the Rafale deal could be cleared by the cabinet committee on security by the end of this month, with other contracts following shortly after. Prime Minister Narendra Modi, incidentally, is slated to visit France for the Artificial Intelligence Summit on February 11 and 12.