India set to become first country since WWII to buy Japan-made military aircraft
Published on Jan 28, 2014 6:36 PM
NEW DELHI (REUTERS) - India is set to become the first country since World War II to buy a military aircraft from Japan, helping Prime Minister Shinzo Abe end a ban on weapons exports that has kept his country's defence contractors out of foreign markets.
The two countries are in broad agreement on a deal for the ShinMaywa Industries amphibious aircraft, which could amount to as much as US$1.65 billion (S$2.1 million), Indian officials said on Tuesday.
However, several details need to be worked out and negotiations will resume in March on joint production of the plane in India and other issues.
New Delhi is likely to buy at least 15 of the planes, which are priced at about US$110 million each, the officials said.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here