The Indian Air Force (IAF) is planning to acquire 114 fighter jets of which 96 would be built in India and rest 18 would be imported from the foreign vendor chosen for the project.
The IAF has plans to acquire 114 Multirole Fighter Aircraft (MRFA) under 'Buy Global and Make in India' scheme under which Indian companies would be allowed to partner with a foreign vendor.
The payment in Indian currency would help the vendors to achieve the over 60 per cent 'Make-in-India' content in the project, the sources said.
Global aircraft manufacturers including Boeing, Lockheed Martin, Saab, MiG, Irkut Corporation and Dassault Aviation are expected to participate in the tender.
The 36 Rafale aircraft procured under emergency orders helped immensely in maintaining an edge over the Chinese during the Ladakh crisis which started in 2020.