Competition Commission of India (CCI) has approved the proposal to form a joint venture (JV) between Reliance Aero and Dassault, named “Dassault Reliance Aerospace Limited”. Under the JV, Reliance Aero would hold 51 per cent shares, with the remaining 49 per cent to be held by Dassault. It is mandatory to get CCI approval beyond a certain threshold, which is a Fair Trade regulatory body and keeps a tab on unfair business practices across sectors. Furthermore, JV will act as a key player in execution of offset contract of the multi-billion euro Rafale fighter jet deal between India and France, and focus on promoting research and development projects under the IDDM programme.