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Modi will buy 114 Rafale for the IAF and 57 Rafale for the IN... if BJP wins. If Cong wins France will be blacklisted like Italy.Those RFIs are making rounds for 15 years. I think you have been here long enough to know that.
Regardless if PM Modi is interested in buying 100 plus MRCA from outside he would have signed the deal years ago. Instead, he just signed for a piecemeal purchase of 36 Rafale. Why? Maybe to save Indo-french relations. Once he gets re-elected most probably he will purchase addition 36 Rafale to bring meaning to IAF's Rafale fleet. beyond this every bit of money will be diverted towards MWF and AMCA.
It is COST OF STRATEGIC INDEPENDENCE, not ultimate waste.
The ULTIMATE WASTE of MONEY, however, is paying on compulsion USD ~45 Million for french upgrade kit per Mirage 2000--which did not even included engine-- when an Isreali upgrade kit was being offered at half the price.
That is why no cost is a greater cost for Strategic Independence.
As for the engine. M88 core without full ToT of the hot section at an exorbitant cost is not much better than buying GE-414 without any ToT. That is why GTRE-SNECMA deal is going nowhere.
If you had bought Israeli IFF you would have even more frat incidents. It is much safer to avoid Israeli equipment unless you want it to shoot down all of your aircraft.
If you bought a re-cored Kaveri you would make everything but the hot section. Now you make none of GE.