Reliance & Dassault Aviation Joint Venture- Dassault Reliance Aerospace [ Current News (Concise) ]
Reliance Group and French aerospace giant Dassault Aviation inked contract to set up a joint venture “Dassault Reliance Aerospace”. This is for indigenously manufacturing parts of recently resolved India-France deal for 36 Rafael fighter jets.
- This is the largest offset contract (means making parts in India) implemented by a defense company in India.
- Estimated value of the deal will be Rs. 30,000 crore.
- Partnership promotes research and development (R&D) projects under the IDDM (Indigenously Designed, Developed and Manufactured) program- a new provision introduced in Defence Procurement Procedure (DPP) 2016.
- Focus is aero structures, engines, and electronics.
- Produce infrastructure and supply chain in India for the aerospace sector.
- In September 2016 an Inter-Governmental Agreement (IGA) was signed between India and France for 36 Rafael multi-role jets in fly-away condition worth €7.87 billion (about Rs. 59,000 crore) with 50% offset clause which will be executed by Dassault Aviation and its partners in India.
- The intent of Union government through this offsets is to develop expertise to build the domestic defence and aerospace industry.
About Reliance Communications
- An Indian internet access and telecommunications company.
- Headquartered in Navi Mumbai, India.
- Founded in 2002 by Anil Ambani.
- Provides GSM (Voice, 2G, 3G, 4G) mobile services, fixed line broadband, and voice services, and DTH (direct to home) services.
- Fourth largest telecom operator in India with 98.70 million subscribers as of June 2016.
- Recently RCom merged its business with Aircel to build a new brand –a top operator in 12 circles of India, and announced virtual merger with RJio.
- Published/Last Modified on: October 5, 2016