'Bold Step': Tata, Airbus Sign Rs 20,000 Cr Deal To Manufacture Military Aircraft

The Defence Ministry inked a nearly ?20,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian Air Force. The deal, which was struck on Friday, September 24, is part of a series of measures to promote the private sector and break the monopoly of state-owned entities in defence manufacturing.

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