In aerospace sector
Reliance Infrastructure and Dassault Aviation announced the creation of a joint venture in India. The new venture called 'Dassault Reliance Aerospace' will support Prime Minister Modi's Make in India and Skill India policies and develop major Indian programs with high levels of technology transfer to benefit the entire aerospace sector.The proposed strategic partnership between Dassault and Reliance will also focus on promoting Research and development projects under the IDDM program (Indigenously Designed, Developed and Manufactured), a new initiative of India's Defence Minister Manohar Parrikar.
The Dassault Reliance Aerospace Joint Venture will be a key player in the execution of offset obligations, as a part of the 36 Rafale fighter Jets purchase agreement at a value of 7.87 billion, or about Rs.59,000 crore signed between France and India on 23 September 2016.
The agreement includes a 50% offset obligation which is the largest ever offset contract in the history of India.
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