Reliance Aerospace, a subsidiary of Reliance Infrastructure Ltd, and France’s Dassault Aviation announced a joint venture in India aimed at developing high levels of technology transfer to benefit the entire aerospace sector.
The joint venture, named Dassault Reliance Aerospace, is part of the 50 percent offset clause in the Rs 59,000 crore Rafale fighter jet purchase agreement between France and India signed on 23 September 2016, according to Reliance Infra press release.
The 50 percent offset obligation is the largest-ever offset contract in India.
The newly formed joint venture will look to support Prime Minister Narendra Modi's ‘Make in India’ and ‘Skill India’ policies.
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