The soon-to-be-signed agreement covers the sale of 36 Rafale fighter jets from the French company Dassault.
"This commercial negotiation is the toughest as it is pertaining to the price of the aircraft and the life-cycle costs. This would take at least a couple of weeks before it goes for approval to the MoD and the ministry of finance," a senior official from the Indian Ministry of Defense said, as quoted by the Financial Express.
The two countries have been negotiation the Rafale deal for over three years now.
Initially, India wanted to purchase 126 Rafale jets to modernize its aging air force. However, then the Asian country decided to cancel its request for 90 planes.
A month ago, it was reported that France had agreed to reinvest 50 percent worth of the contract on the Rafale fighters into the Indian economy.
Still trying to squeeze the best out of the deal, the Indian Defense Minister Manohar Parrikar said he hoped that India would negotiate up to 25 percent discount for the jets, which would be 75 million euro ($82 million) instead of 105 million euros for each aircraft.
The Rafale is a French fourth-generation multirole twin-engine fighter aircraft designed and built by Dassault Aviation.
