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Exclusive | No bank guarantees meant a more expensive new #RafaleDeal, reports @nramind…
The Hindu has accessed a detailed and revealing document titled “Report of the Indian Negotiating Team on Procurement of 36 Rafale Aircraft for Indian Air Force” #RafaleDeal
It shows that the Indian Negotiating Team estimates the cost of loading bank guarantees, which the French commercial suppliers with backing from the French government refused to do, as €574 million. #RafaleDeal
The final INT report is silent on why the commercial impact of loading the bank guarantees was not factored into its exercise of comparing the costs of the new deal and the original MMRCA proposal #RafaleDeal
For more details, read on:…
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