India will sign a $2.5-billion contract his year for the supply of 56 medium transport aircraft to the Indian Air Force to replace its fleet of aging Avro-748 planes, officials familiar with the development said on Tuesday.
Airbus Defence and Space and Tata Advanced Systems Limited (TASL) will jointly execute the project to equip the air force with 56 C-295 transport aircraft under the Make-in-India initiative in the aerospace sector.
Under the contract, Airbus will supply the first 16 aircraft in flyaway condition while the remaining 40 will be assembled in India by TASL.
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