India to buy 126 combat jets: Antony

New Delhi: India is all set to buy 126 multi-role fighter jets worth over $5 billion with the decision likely to be taken shortly, Defence Minister A K Antony said on Wednesday.

“The procedure (for acquiring the jets) is almost in the final stages. I can assure you that a decision will be taken very quickly," Antony said after inaugurating the sixth Aero India show in Bangalore.

Companies vying to bag the lucrative contract are France's Dassault (Rafale), Russia's RAC-MiG (MiG-29M2), Sweden's Saab (JAS-39 Gripen) and Lockheed Martin (F-16) and Boeing (F-18) of the US, some of which participated in the flight displays also.

On the development of a fifth generation jet for the IAF, Antony said India would jointly produce the aircraft with Russia's fighter plane manufacturer, Sukhoi. Hindustan Aeronautics Limited and DRDO would also be involved in the process, he added.

Antony also informed that a proposal for an aerospace command has been sent by the IAF but no decision has been taken on the issue.

"It has to be a tri-service command. Discussions are going on but there are several issues. I cannot give a time limit," Antony said.

On the light combat aircraft (LCA) project, Antony said that it has not been put on the backburner. "The LCA is very much on track. Initially there were some problems, but it is on the right track now. There is no question of abandoning it,” he informed.

The next five years of the 11th Plan period would see India procuring defence equipment worth $8 to $10 billion. "For that, procedures are already taking shape," he said.

Earlier, inaugurating the air show, Antony said India was fully committed to maintaining peace and stability with its neighbours. "In the global context, we wish to achieve this objective through effective diplomacy backed by credible military deterrence."

The country has initiated several confidence-building measures with its neighbours including Pakistan and China.

"But we cannot remain complacent and there is a need for eternal vigil. We have to modernise our armed forces backed by a strong deterrent to prevent a war," Antony said.

(With inputs from PTI)