Reuters - Business Insider
View of the assembly line of the Rafale jet fighter in the factory of French aircraft manufacturer Dassault Aviation in Merignac near Bordeaux
PARIS (Reuters) - A deal between France and India to sell 126 Rafale fighter jets to India in a deal worth an estimated $15 billion will need several months more negotiations, French Defence Minister Jean-Yves Le Drian said on Friday.
Le Drian's comments came after the Indian Defence Ministry said this week it had agreed with the French Defence Ministry to fast-track negotiations and seek to overcome differences in talks that have been ongoing since January 2012.
"We are in a positive process, I hope it will come to a successful conclusion. It has progressed well," Le Drian told BFM-TV.
Le Drian said it would not happen before the end of the year, however.
"It's not three weeks ... it's several months, we'll see. But I'm optimistic."
Last month, the CEO of Dassault Aviation told Reuters a contract by the end of March was a "reasonable goal."
France's Dassault has been trying to clinch a deal to sell India its Rafale jets since New Delhi chose the company over other foreign plane manufacturers in 2012.
Disagreements over cost and work-sharing slowed talks, as well as elections in India.
Under the deal, which would provide a major boost to French domestic defense manufacturing, the first 18 planes will be made in France and shipped to India, while the remaining 108 will be produced by state-run Hindustan Aeronautics Ltd.
(Reporting By Alexandria Sage; editing by Mark John)
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