Just a week after India and France inked the Rs 59,000 crore agreement for the purchase of 36 Rafale fighter jets, Anil Ambani controlled Reliance Infrastructure and Dassault Aviation (manufacturer of Rafale Jets) formed a joint venture called Dassault Reliance Aerospace.

The joint venture would be a key player in the execution of offset obligations, as a part of the 36 Rafale fighter jets purchase agreement.

The agreement includes a 50 per cent offset obligation, which is the largest ever-offset contract in the history of India. Under the offset clause, the supplier has to procure components or raw materials from domestic manufacturers worth 50 per cent of the deal value.

Soon after the announcement, the share prices of Reliance Infrastructure vaulted 7.98 per cent on the BSE.

The proposed strategic partnership between Dassault and Reliance will also focus on promoting research and development projects.