Govt. offers $12 Bn for aircraft manufacturing facility in India

The Indian Government has offered to spend $12 billion to encourage private firms to establish an aircraft manufacturing facility either independently or in partnership with overseas firms. Specifically, the Indian government has offered an advance order for the indigenously being built Light Combat Aircraft (LCA) Mark-2 to the private sector. A total of 250 LCA Mark-2s are requirement by Indian Air Force, which the government estimates would be covered by the $12 billion advance order. As of now, the aircraft is still in the development stage and is not expected to be ready for production before 2017-18.

Source: http://www.defensenews.com/article/20141004/DEFREG03/310040022/India-Offers-Spend-12B-Break-Monopoly

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