NEW DELHI, June 18: India has completed negotiations over an order for 126 fighter jets that could cost up to $9 billion, Defence Minister A.K. Antony said on Monday. But the minister did not say which of the Russian, US and European rivals were best placed to win what arms industry sources have described as the world’s biggest fighter plane contract in 15 years.

According to industry sources, the leading contenders are the Russian-built MiG-35 and MiG-29, Lockheed Martin’s F-16 and Boeing’s F-18.

Also in the race to replace India’s aged fleet of MiG-21s are Eurofighter’s Typhoon, Saab’s Gripen and Dassault’s Rafale.

“All negotiations are over and now it is a question of formalities,” Antony told reporters on the sidelines of a commanders’ meeting in the Indian capital.

“The defence acquisition committee will be meeting within a fortnight and decide on the Request for Proposals (RFP),” the minister added, referring to the body that has the final say on who should get the contract.

Senior defence ministry officials also confirmed the comments, saying that “no further discussions are necessary in the deal”. “We are now hopeful the contract will be offered within a month’s time or so,” one of the officials said.

The deal will be the first time India, now the biggest arms purchaser among emerging nations, has bought combat aircraft after evaluating rival bids through a global tender.

The country was once a captive defence-equipment market for the former Soviet Union and later Russia – which provided 70 per cent of India’s military hardware -- but is now seen as trying to broaden its military suppliers.

The two US contenders, Lockheed Martin and Boeing, are trying to latch on to warming relations between New Delhi and Washington, who were once on opposite sides of the Cold War divide.

The two countries signed a landmark deal in 2005 that will allow India access to US civil nuclear technology, barred since the country exploded its first nuclear bomb in 1974.—AFP