India clears $2.4 billion plan to buy cargo planes for Air Force

New Delhi: India's defence ministry on Monday gave its nod for an Indian Air Force (IAF) plan to buy 56 transport planes worth $2.4 billion to augment its cargo fleet, apart from tweaking its defence procurement offsets policy and creating a new agency to execute the same.
The Defence Acquisition Council (DAC), headed by Defence Minister AK Antony, met in Delhi to clear the proposals, ministry sources said.
The 56 transport planes are required by the IAF in place of its ageing Avro planes fleet and the defence ministry will issue a global tender for procuring the same, they said, adding that only the first 16 planes under the deal will be directly procured from the vendor.
24/07/12 IANS/Daily News & Analysis

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Categories: Cargo Jul 2012, Indian Aviation- In General Jul 2012