Cabinet committee on security cleared purchase of 56 C-295 MW transport aircraft on Wednesday. 10 of the Air Bus’ military planes will be delivered by Spain in flyaway condition and 40 will be manufactured in India by Tata Consortium. 

The deal is said to be worth $2.5 billion. Tata will manufacture the military transport aircraft within a timeframe of 10 years. The aircraft will replace IAF’s Avros which were commissioned in the early 1960s.

(With inputs from agencies)