France offers EUR 1 billion (50% offset) to revive India's combat jet engine project

 Read more at: http://economictimes.indiatimes.com/articleshow/53036894.cms


France has offered to invest EUR 1 billion to revive India's combat jet engine project, proposing a joint development plan that could see the stalled 'Kaveri' gas turbine powering indigenous Tejas fighters by 2020.

The proposal is to use offset credits that would come from the planned Rafale fighter jet deal to revive the indigenous jet engine project, people involved in talks between the Indian defence ministry, the Defence Research & Development Organisation and French companies told ET.