In a significant development for India's defence capabilities, the Defence Procurement Board (DPB) has cleared a proposal for the acquisition of 114 Rafale fighter jets from France's Dassault Aviation. This mega deal is estimated to be valued at approximately Rs 3.25 lakh crore (around USD 36-39 billion), making it one of India's largest-ever defence procurements if finalized. The initial report from ANI, published around January 13, 2026, indicated that the Defence Ministry was set to discuss this proposal "this week." This claim has been verified as subsequent reports confirm that the DPB indeed cleared the proposal on January 16, 2026, falling within the specified timeframe. Under the proposed deal, a portion of the aircraft, specifically 12 to 18 jets, will be acquired in a fly-away condition to meet the immediate operational requirements of the Indian Air Force (IAF). The remaining majority will be manufactured in India, aligning with the 'Make in India' initiative, with indigenous content initially expected to be around 30%. However, discussions aim to potentially increase this to 55-60% through comprehensive Transfer of Technology (ToT) for airframes, engines, and avionics. India is also seeking the integration of its indigenous weapons and systems into the Rafale platform, though the critical source codes for the aircraft's core software are expected to remain with the French side. The proposal will now move through further stages of approval, including consideration by the Defence Acquisition Council (DAC) and the final clearance from the Cabinet Committee on Security (CCS). This acquisition is deemed crucial to address the Indian Air Force's dwindling fighter squadron strength, which has fallen significantly below its authorized levels. If completed, this deal, along with the existing 36 Rafale jets and 26 Rafale-M jets ordered for the Navy, would bring India's total Rafale fleet to 176 aircraft. There is an anticipation that the agreement could potentially be finalized during French President Emmanuel Macron's planned visit to India in February 2026. Deliveries of the fly-away units are projected to commence around 2030.