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TATA and Airbus sign Rs 22,000 crore contract to make military aircraft

Rs 22000 crore deal between TATA and Airbus is the biggest military order placed on the private sector. This deal is part of a series of initiatives to promote the private sector. 

As per the deal, a significant decision of setting up of manufacturing plant for 40 of the 56 C 295 transport aircraft ordered is (to be built locally) now being finalised.  

The Rs 22000-crore deal has been in the works since 2012, with a push being given in the last year to see it through, after several delays. Seeing it through was no easy task, given this is the first case in which the public sector was explicitly left out to promote an alternate aerospace complex with the private sector. 

The order is also expected to go up beyond 56, with requirements from the coast guard, navy and other forces expected to come in the next few years. In addition, the aircraft is also expected to be exported out from India in the future for customers abroad. 

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