The negotiations for the supply of 36 French Rafale fighter for the Indian Air Force finished and the supplier Dassault Aviation has agreed to reduce the price from €10 billion to 7.25 billion euros, reported The Economic Times. Half the amount will be invested in the development of the Indian defense industry.

The French side also agreed to hand over 16 technologies that are critical to the development of Indian aviation, including in jet engines, and also to invest 50% of the transaction value in the military industrial complex of India, explained a source from the Indian Defence Ministry.

He added that France has expressed willingness to invest 1 billion euros in the revival of the project of the Indian jet engine Kaveri, to power the Tejas fighters (lightweight multipurpose fighters, single-engine, fourth generation, developed by India) for the Indian Air Force to 2020.

The final report on the results of the long negotiations was submitted to the office of the prime minister and the deal could be approved at the upcoming meeting of the Committee on Safety of the Indian government.