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INDIA COULD SHELL OUT $12 BILLION FOR NEW FIGHTER JETS


The South Asian nation's government has sent letters to several companies regarding a new fleet of military aircraft, to be jointly produced with local firms. A potential deal, according to experts, could be worth up to $12 billion. "India is looking at paying $65 to $80 million per aircraft for 150 aircraft," says Ben Moores, a defense and aviation analyst at IHS Jane's. The country faces an elevated sticker price for the fighters because government rules require most of the manufacturing to take place in India. The requirement, which is part of Prime Minister Narendra Modi's "Make in India" initiative, is believed to have been a roadblock in India's most recent military aircraft deal with France.

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