The Defence Ministry has imposed a fine of less than 1 million euros on European missile maker MBDA for delay in fulfilling its offset obligations under the Rafale aircraft deal, sources said on Wednesday.
French aerospace major Dassault Aviation is the manufacturer of the Rafale jets while MBDA supplies the missile systems for the aircraft, reported news agency Press Trust of India.
India had signed an inter-governmental agreement with France in September 2016 to procure 36 Rafale jets at a cost of ₹ 59,000 crore, and the offset obligations were part of the contract. Read More…
