French President Francois Hollande on Friday hailed the conclusion of the Rafale fighter jet deal with India which he said was "a recognition" of French aeronautic industry and security technology.

French defense minister Jean-Yves Le Drian inked the agreement with his Indian counterpart Manohar Parrikar in New Delhi -- a deal for India to buy 36 Rafale worth about 7.9 billion euros (8.85 billion U.S. dollars), one of India's biggest defense deals in decades.

"The agreement... shows the great military and strategic power's recognition of operational performance, technological quality and competitiveness of the French aero space industry," Hollande said in a statement.

Since 2015, France has sold 84 Rafale fighter jets, a performance that mirrored the government's commitment to develop "a high technology sector," according to the French president.

The Rafale, manufactured by French company Dassault Aviation, is a twin-engine delta-wing multi-role jet fighter. Since it was introduced in 2000, it has only served in the French navy.

Due to its high price, the French aircraft faces competition from Boeing's F/A-18 Super Hornet and Gripen NG from Sweden's Saab.

Source : XINHUA