Bids opened for $10 billion jet deal

Commerical bids were opened on Friday for the country’s biggest ever aircraft deal to buy 126 medium multi-role combat aircraft (MMCRA) estimated to be worth around $10.4 billion (Rs 42,000 crore).

Two European contenders — Eurofighter Typhoon and Rafale — are left in the race after American, Russian and Swedish bids were rejected six month ago by the Indian government.

“Today commercial bids were opened in presence of members of Contract Negotiation Committee of the defence ministry and representatives of both vendors. Selection of the lowest bidder will be determined only after examination and evaluation of commercial proposals. And this will take at least six- eight weeks time to take final decision,” a defence ministry spokesperson said.