Reliance Group's 2016-17 report spoke of Rs 300 bn in Rafale JV offsets

However, '17-18 report silent on the amount

There are different versions of how much business has flowed to Anil Ambani's joint venture firm, Dassault Reliance Aerospace Ltd (DRAL), through offsets arising from the Indian Air Force (IAF) purchase of 36 Rafale fighters for 7.8 billion euros — the equivalent of Rs 590 billion, when the contract was signed in September 2016.

In this acquisition, the defence ministry demanded offsets worth 50 per cent of the contract value. That requires Dassault Aviation and its Tier-1 vendors — French firms Thales and Safran Aircraft Engines, and MBDA — to invest about Rs 300 billion in Indian defence research and development,