Reliance Defence has signed an agreement with Dassault Aviation of France, the makers of Rafale fighter jets, for a joint venture in India, to be named Dassault Reliance Aerospace.
Dassault Reliance Aerospace will work under the government and Dassault system deal that makes it mandatory for Dassault to give Indian companies business worth about Rs 30,000 crore.
The JV will be a key player in the execution of offset obligations, as a part of the 36 Rafale fighter jets purchase agreement signed between France and India.
The agreement includes a 50% offset obligation which is the largest ever offset contract in the history of India.
