Indian cabinet approves Rafale fighter purchase
Sep. 22, 2016 8:15 AM ETDassault Aviation Société anonyme (DUAVF)DUAVFBy: Yoel Minkoff, SA News Editor
- India's cabinet has cleared the purchase of 36 Rafale fighter jets from Dassault Aviation (OTCPK:DUAVF), paving the way for signing a deal that Prime Minister Narendra Modi is betting on to modernize the air force.
- The acquisition is part of a $150B military overhaul India has launched, drawing global arms makers into one of the world's most promising markets.