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Saturday, February 14, 2015

India must seal $2 billion US chopper deals soon to avoid price hike

AH-64E ApacheIndia will have to fast-track the long-pending approvals for 22 Apache attack and 15 Chinook heavy-lift helicopters if it does not want a major cost escalation in the two deals currently worth around $2.5 billion.

US aviation major Boeing on Friday obliquely warned of a price hike if India did not close the two deals for its two iconic helicopters soon. "We are awaiting the Indian government's decision. We have extended the validity of our commercial bids when asked (in the past).

But there is a point beyond which we cannot (hold the price line) due to inflationary pressures," Boeing India chief Pratyush Kumar said.

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