India agreed to buy 56 transport aircraft from Airbus Group NV for 119.3 billion rupees ($1.87 billion) to replace an aging fleet, as Prime Minister Narendra Modi seeks to modernize the country’s military.The C-295 planes, which will replace Avro cargo planes in the Indian Air Force fleet, will be jointly built with India’s Tata Advanced Systems Ltd., an Indian government official said in New Delhi late Wednesday, asking not to be identified because of internal policy.
Sixteen of the aircraft will be built at Airbus plants in Europe, and the rest in India.
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