India signed a contract with the Airbus Defence and Space company of Spain to acquire 56 C-295MW transport aircraft for the Indian Air Force on Thursday (September 24). Defence Ministry signed the contract with Airbus Defence and Space. It also signed an Offset Contract with Airbus Defence and Space. These contracts were signed following the approval accorded by the Cabinet Committee on Security earlier this month.
The induction of C-295MW will be a significant step towards modernising the transport fleet of the Indian Air Force. 56 C-295MW transport aircraft is supported by the latest technology, which will replace the ageing Avro transport aircraft of IAF. The aircraft will give a major boost to the tactical airlift capability of IAF, especially in the Northern and North-Eastern sector and Andaman & Nicobar Islands.
The project will provide a major boost to the Aatmanirbhar Bharat Abhiyan of the Centre, which offers a unique opportunity for the Indian private sector to enter the technology-intensive and highly competitive aviation industry. Out of 56, TATA Consortium will manufacture forty aircraft in India. All the deliveries will be completed within ten years of the signing of the contract. All 56 aircraft will be installed with the indigenous Electronic Warfare Suite. The project will boost the aerospace ecosystem in India, wherein several MSMEs of the country will be involved in manufacturing parts of the aircraft. The programme will also involve the development of specialised infrastructure in the form of hangars, buildings, aprons and taxiways.
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One of the Vice Presidents of the National Bank of Pakistan (NBP) has been arrested by the Federal Investigation Agency (FIA) after the government authority conducted a raid at the head office of the bank. The raid was conducted on Saturday night while three bank officials, including a woman, fled before the raid, Samaa TV reported. The FIA is trying to prevent the smuggling of dollars and many people across the country have been arrested on charges of illegal currency transac ...