India’s Defence Acquisition Council Clears $43 Billion Deal for Rafale Fighters, P-8I Maritime Aircraft:  New Delhi: In a major push to bolster India’s air and maritime combat capabilities, the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, on February 12, 2026, approved capital acquisition proposals worth approximately ₹3.60 lakh crore (₹360,000 crore) — roughly $43 billion USD at current exchange rates.