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Reliance partnership in Rafale deal offset: Not a threat, says HAL

The joint venture between the French company that manufactures Rafale fighter jets and Ambani's Reliance was announced in 2016 with contract being valued at a whopping Rs 30,000 crore.

| Updated: Wednesday, February 15, 2017, 19:45 [IST]

Bengaluru, Feb 15: HAL's Chairman and managing Director T Suvarna Raju on Wednesday said that Dassault aviation making Anil Ambani's reliance their offset partner in India did not come as a worry to HAL. The joint venture between the French company that manufactures Rafale fighter jets and Ambani's Reliance was announced in 2016 with contract being valued at a whopping Rs 30,000 crore.

Reliance partnership in Rafale deal — File Photo of HAL's Chiarman and managing Director T Suvarna Raju. PTI

"I am not aware of such a joint venture or if government has made reliance a offset partner. Even if there were one, it doesn't come as a threat to HAL. We have showcased our capacity and capability in this very Aero show with the line up of indigenous aircrafts displays. It does not come as a worry to us and it is no threat," he said.

Speaking further on India's push to only buy defence products from foreign firms where India will be made a strategic partner, HAL claimed that it may not be in the run. "HAL has been India's primary contributor as far as defence manufacturing is concerned for close to seven decades. The government may consider other player to become strategic partners in future deals with foreign firms," Raju said.

France Dassault Aviation entered into partnership with Reliance group to execute offsets for the contract it signed up with India for 36 Rafale fighter jets in 2016. The joint venture called 'Dassault Reliance Aerospace' was jointly announced by the Chiefs of both companies. Reliance had termed it the largest offset contract to be executed by any defence company in India till date with the contract being valued upto Rs 30,000 crore.

While the entire deal between India and France for 36 Rafale jets is worth Rs 59,000 crore, the deal comes with a rider of 50 percent offset clause that will extend for seven years to be executed by the French company and its partners in India.

OneIndia News