French firm Dassault Rafale on Monday bagged India's biggest-ever military contract for supplying 126 combat aircraft for the Air Force, edging out European rival EADS in the deal that may be worth about ten billion dollars.
The French firm was declared as the lowest bidder
, according to which it will get the contract under India's defence procurement procedure, sources said.
"The French firm Dassault Rafale has emerged as the L-1 (lowest bidder) and cheaper than its European rival EADS (maker of Eurofighter) in the tender and will be offered to supply the aircraft to the IAF," the source said.
They said the representatives of Dassault here were informed about the development in the morning and further negotiations on price will be held with them in the next 10-15 days.
The contract will be signed only in the next fiscal.