MoD Signs ₹13,500 Crore Deal with HAL for 12 Indigenous Su-30MKI Jets

16 Dec 2024 , 11:42 PM

The Ministry of Defence (MoD) has entered into a contract worth ₹13,500 crore with Hindustan Aeronautics Ltd (HAL) for buying 12 Su-30MKI aircraft. The deal contributes to the Modi government’s Aatmanirbhar Bharat push, with 62.6% of the aircraft comprising indigenous components from India’s defence industry.

HAL will produce the Su-30MKI aircraft, which is originally of Russian origin, under an intergovernmental agreement. Production of the aircraft will be done by HAL’s Nashik division, which will be indicative of India’s growing ability to be self-reliant in defence manufacturing. In the National Stock Exchange, shares of Hindustan Aeronautics Ltd is closed at ₹4675.00 on December 16, 2024 which is a 0.11% gain than the previous close.

The purchase includes all necessary equipment, and all duties and taxes are included in the total amount. The jets will greatly improve the combat readiness of the Indian Air Force, thus improving India’s defense preparedness.

The Su-30MKI aircraft are highly advanced and integral to India’s air combat capabilities. The MoD stresses that this contract follows the vision of promoting and enhancing domestic defense production. It also cuts down its dependency on imports. Incorporating these machines will modernize and supplement the Indian Air Force as it prepares better for eventualities. It is part of India’s pursuit to help its defense sector grow via strategic investments and partnerships.