The company named Dassault Aircraft Services India Private Limited (DASIPL) was set up recently and it is 100 per cent owned by its French parent company, officials said here.
The new company is headed by a French national Richard Lavaud, who has worked in India earlier with defence firms,and will work towards finalising the deal with India, they said.
Earlier this year, Dassault Rafale had emerged as the lowest bidder in the IAF tender for supplying 126 combat aircraft edging out its European rival Eurofighter Typhoon aircraft in terms of prices.
The contract has been offered to Dassault and it is negotiating the terms and conditions and the final price of the aircraft with the Indian Defence Ministry officials.
Dassault has also entered into an agreement with Reliance Industries Limited (RIL) for partnering in defence and homeland security sectors in the country.
There was a possibility of the two companies working together in the combat aircraft deal here.
After finalising the deal, Dassault will have to reinvest 50 per cent of the contract's worth back into the Indian defence sector.
Mukesh Ambani-headed RIL has made several efforts in the past to position itself in the defence, internal security and aerospace solutions sectors.
