India's Cabinet Committee on Security (CCS) approved the procurement of 56 Airbus Defence and Space C295MW medium transport aircraft for the Indian Air Force (IAF) on 8 September that will replace the service's ageing Avro 748M transport fleet.
The Indian Ministry of Defence (MoD) said in a statement that 16 aircraft will be acquired directly from Airbus and delivered in fly-away condition from Spain within 48 months of the signing of the contract, whereas the remaining 40 platforms will be manufactured by the Tata consortium – as part of a joint venture (JV) with Airbus – within 10 years of the contract award.
Although not officially announced, the acquisition is estimated to be valued at INR210 billion (USD2.86 billion), according to industry sources.
https://www.janes.com/defence-news/news-detail/new-delhi-approves-acquisition-of-56-c295-transport-aircraft-for-iaf