India opts for $8.3B deal to replace migs with Rafale jets
India has decided to purchase 26 French Rafale M fighter jets for $8.3 billion, replacing the Russian MiG-29K. According to SIPRI, France has become the second-largest arms exporter in the world, surpassing Russia.
India has concluded negotiations to purchase 26 French Rafale M fighter jets for its navy. As reported by United24media, the $8.3 billion transaction aims to replace the aging fleet of Russian MiG-29K and MiG-29KUB jets. The contract is expected to be signed during the French defence minister's visit to India in April.
France surpasses Russia in arms exports
According to the Stockholm International Peace Research Institute (SIPRI) report, France has become the second-largest arms exporter worldwide, overtaking Russia. French arms exports increased by 47% from 2019 to 2023. Meanwhile, Russian arms exports decreased by 47% in 2024 compared to 2022.
Despite the decline in exports, Russia remains the largest arms supplier to India, accounting for 38% of Russian exports. However, France is rapidly gaining significance, with nearly 30% of its exports directed to India.
Increased demand for Rafale
Dassault Aviation, the manufacturer of the Rafale, has noted a rise in global demand for its fighter jets due to the war in Ukraine and uncertainty regarding future U.S. military aid to Europe. The company plans to deliver 25 Rafale fighters and 40 Falcon jets in 2025.
However, France is facing production challenges. Dassault Aviation can produce 25 Rafale fighters per year, while American Lockheed Martin plans to deliver 190 F-35s in 2024. This highlights the differences in the two companies' production capacities.
