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Wednesday, January 29, 2014
India close to buying Japan-made military aircraft
India is set to become the first country since World War Two to buy a military aircraft from Japan, helping Prime Minister Shinzo Abe dismantle 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 $1.65 billion, 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.
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