Rafale deal likely to go to Cabinet panel soon

New Delhi: The much-awaited deal for 36 Rafale fighter jets is in the final stage, and will go to the Cabinet Committee on Security soon, said informed sources.

According to sources, the deal is likely to cost 7.87 billion euros, after a tough negotiation from the Indian side which also caused delay in finalisation of the deal.

Sources said offsets and service details also have been finalised and the work is being done on the Inter Governmental Agreement for the deal.

Once this is finalised, the documents will go to the Cabinet Committee on Security for final approval.

A team from France in also present in the national capital, and both sides are keen to conclude the deal soon.

According to sources, the Prime Minister's Office has pushed for concluding the deal early, after more than year-long negotiations, in which price was a major sticking point.

In 2012, India decided to ink a deal for 126 Rafale jets.

As the deal could not work out, another deal for purchasing 36 Rafale combat jets in fly-away condition was inked during Prime Minister Narendra Modi's visit to France in April last year.

Both the sides also agreed to conclude an inter-governmental agreement for supply of the aircraft after which a negotiating team was constituted.

In an interview to IANS in May, Parrikar had said the deal is in the final stage and would be concluded in "a couple of months".