India, France To Develop $6 Billion SR SAM Project

India and France have agreed to a $6 billion SR SAM deal during talks between French President Francois Hollande and Prime Minister Manmohan Singh.

The SR-SAM project is a co- development joint venture between India and France and would be developed by MBDA of France and DRDO from the Indian side. The surface to air missile defence system would be deployed by the IAF and the Navy.

Hollande was accompanied by Dassault chief executive Eric Trappier, whose company won the MMRCA competition last year to supply 126 Rafale fighter aircraft to India.

Prime Minister Singh, said, "Discussions on the MMRCA contract are progressing well. We have also concluded negotiations on the Short Range Surface to Air Missile, which, once approved by the government, will be co-developed and co-produced in India".

"We have confidence in India which is a peaceful power and at the same time wishes to defend, control its security and which spends substantial amount of its budget to this end.

So, therefore, we must provide as we have always best equipment, material to Indian partner," Hollande said.