Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Futures Kickoff
Get prepared for your futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to experience risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
India backs $40 billion military upgrade with more Rafale fighters, Boeing P-8Is
India backs $40 billion military upgrade with more Rafale fighters, Boeing P-8Is
1 / 13
2025 Dubai Airshow
A Dassault Rafale fighter jet performs at the Dubai Airshow in Dubai, United Arab Emirates, November 17, 2025. REUTERS/Amr Alfiky
Reuters
Thu, 12 February 2026 at 9:32 pm GMT+9 2 min read
NEW DELHI, Feb 12 (Reuters) - India on Thursday gave initial clearance for a 3.6-trillion-rupee ($40 billion) boost to the country’s armed forces, including procurement of more Rafale fighter jets for the air force and Boeing P-8I reconnaissance aircraft for the navy.
Heightened tensions with its neighbours, including Pakistan, have pushed India’s military to modernise.
The air force’s fighter squadron strength has shrunk to 29 in recent months, well below the 42 it had earlier. Its workhorse MiG-21 was retired in September and other early variants of the MiG-29, the Anglo-French Jaguar and the French Mirage 2000, are also set to end service in the coming years.
New Delhi has long relied on importing machinery and weapons for its armed forces, but a recent push by Prime Minister Narendra Modi has helped boost domestic manufacturing.
For the Indian Air Force, this era began in the 1980s but was fruitful only in the last decade when the locally produced Tejas fighter jet was introduced to replace Soviet-era MiG-21s.
Hindustan Aeronautics (HAL) has nearly 180 of the advanced Mk-1A variants of the Tejas on order domestically, but has yet to begin deliveries due to engine supply chain issues at GE Aerospace.
The defence ministry said the Defence Acquisition Council had given the initial nod for more Rafale fighter jets and missiles for the air force, anti-tank missiles for the army and P-8I reconnaissance aircraft for its navy.
The total value of all these proposals stands at 3.6 trillion rupees, the statement said. It did not elaborate further.
The approvals come ahead of a visit by French President Emmanuel Macron to India next week. The Indian Air Force’s fleet currently includes Rafale fighters from Dassault Aviation.
In April, India signed a deal for 26 Rafale-Marine twin- and single-seat jets to be deployed on its two carriers: INS Vikrant and INS Vikramaditya.
Separately, the defence ministry on Thursday also signed a deal with HAL to buy eight Dornier 228 aircraft for the coastguard.
The proposals pave the way for commercial and technical details to be finalized soon.
Earlier in the day, local media reported that the DAC had given its approval to buy 114 Rafale fighter jets from Dassault for 3.25 trillion rupees.
($1 = 90.5780 Indian rupees)
(Reporting by Delhi Newsroom; Editing by Thomas Derpinghaus and Toby Chopra)
Terms and Privacy Policy
Privacy dashboard