Reliance Aerospace to execute Rafale offset programme in India
The Anil Ambani-led Reliance group on Monday announced the creation of a joint venture with French defence manager Dassault.
The new joint venture called “Dassault Reliance Aerospace” will execute offset obligations, as a part of the 36 Rafale fighter jets purchase agreement at a value of €7.87 billion, or about Rs 59,000 crore signed between France and India on September 23.
The agreement includes a 50 per cent offset obligation which is the largest ever offset contract in the history of India, a company statement said.
The proposed strategic partnership between Dassault and Reliance will also focus on promoting research and development projects under the IDDM program (Indigenously Designed, Developed and Manufactured), a new initiative of Defence Minister Manohar Parrikar.
“The formation of this Joint venture with Reliance Aerospace led by Anil Ambani’s Reliance Group illustrates our strong commitment to establish ourselves in India and to develop strategic industrial partnerships under the ‘Make in India’ policy promoted by the Indian Government,” said Eric Trappier, Dassault Aviation Chairman & CEO in a statement.
“We are delighted to partner a world leader in aviation like Dassault Aviation, and a visionary leader like Eric Trappier. This is a transformational moment for the Indian Aerospace sector and for Reliance Infrastructure’s subsidiary Reliance Aerospace”, said Anil Ambani, Chairman of The Reliance Group.
With more than 8,000 military and civil aircraft delivered to more than 90 countries over the past 60 years, and having logged nearly 28 million flight hours to date, Dassault Aviation has know-how and experience in the design, development, sale and support of all types of aircraft, from the Rafale fighter to the Falcon range of high-end business jets, as well as military unmanned air systems.
In 2015, Dassault Aviation reported revenues of €4.20 billion. The company has almost 12,000 employees. In 2016, Dassault Aviation is celebrating the first centennial of its history, which started in 1916 with Marcel Dassault and the Éclair propeller.
In January 2015, the Reliance Group entered the Indian defence manufacturing sector, acquired a state-of-the-art Naval Shipyard, and is rapidly developing its Air, Land and Sea Defence manufacturing capabilities in collaboration with leading global defence firms.
