India fighter jet deal soars to $20bn

An Indian contract to buy 126 fighter jets from one of two European bidders could be worth more than $20bn, almost double the original estimate, according to government officials. The defence ministry revised up its initial $11bn estimate after opening bids on Friday from the Eurofighter Typhoon consortium and France’s Dassault, the maker of the Rafale aircraft, a ministry official told the Financial Times.

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