The purchase of ten C-17 Globemaster III aircraft for the Indian Air Force (IAF) is ready to be approved by the Cabinet Committee on Security (CCS).
The Contract Negotiation Committee of the Ministry of Defense has finished thrashing out all the outstanding issues related to the purchase, including approvals for the proposals to satisfy the 30 per cent offsets requirement under the Defense Procurement Procedure (DPP) of 2008.
The Finance Ministry has also approved the purchase, expected to be worth USD 4.1 billion.
While it is not clear exactly when the CCS will discuss the acquisition for approval, it is understood that the defense budget for the Financial Year 2010-11, which expires at the end of this month, provides for capital expenditure on the aircraft, manufactured in Long Beach in the US by Boeing.
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