Bengaluru: Close on the heels of a Rs 48,000 crore deal between the government and the HAL to manufacture and supply 83 LCA Tejas Mark-1A jets for the Indian Air Force, it is now a potential Rs 15,000 crore deal with Tata-Airbus to supply 56 C-295 transporter aircraft to the IAF, as per an Economic Times report.

Reports add that should the deal go through Cabinet Committee on Security approval, this will be the first time India will be manufacturing a military aircraft. 

It is also to be noted that this move will create jobs in India. 

"It is a very deep Make in India project, where at one end aluminium blocks will literally be imported and at the other end a flying aircraft would emerge from the final assembly line", the report was quoted as saying.

The C-295 transport aircraft will be instrumental in replacing the ageing Avro fleet of the IAF.