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Lockheed-Boeing to be immediate beneficiary of EUM agreement

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WASHINGTON (PTI): Lockheed Martin and Boeing - the two US companies which are bidding for the multi-billion fighter jets deal in India stand to be major beneficiaries of the End User Monitoring agreement reached between India and the US, the US India Business Council (USIBC) has said.

Both companies are competitively bidding for India's Medium Multi-Role Combat Aircraft (MMRCA) tender, valued at more than USD 10 billion.

This procurement by India is one of the largest fighter aircraft deals on the horizon anywhere, and will upgrade the paradigm in relations between US and Indian defense companies.

Both the companies were competing against Russia's Mig-35, France's Dassault Lockheed Rafale, Sweden's Saab Gripen and the Eurofighter Typhoon in this procurement.

The winning company will not only provide 126 fighter aircraft to the Indian Airforce, but will also assist IAF in its capabilities to train, sustain and maintain this new fleet, locking-in a long term partnership with the air force and other India companies.

The EUM Agreement with India will also enable other US defense companies to be more proactive in participating in India's defense and security market, providing the Indian government a range of high-end technology and defense items ranging from helicopters to reconnaissance aircraft, as well as night vision gear to border protection equipment, the USIBC said in a statement.

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