Seven defence majors, including the state-run aviation behemoth Hindustan Aeronautics Limited (HAL), engineering powerhouse Larsen & Toubro (L&T), Adani Defence, TATA Advanced Systems Ltd (TASL), and Kalyani Strategic Systems, have submitted bids to the Ministry of Defence (MoD) to become part of India's Advanced Medium Combat Aircraft (AMCA) - the country's 5.5 generation stealth warplane.
Other bidders include Bharat Electronics Limited (BEL) and Bharat Earth Movers Limited (BEML).
These seven companies are vying to tie up with the Defence Research and Development Organisation (DRDO), the nation's premier research institution for military equipment, to design and develop the prototypes of India's next-generation fighter jet.
Ultimately, a committee headed by Dr A. Sivathanu Pillai, the founder-CEO and Managing Director of BrahMos Aerospace Private Limited, will shortlist two bidders from the seven that will receive $1.7 billion ($850 million each) from the government to produce five prototypes of the AMCA as per the requirements of the Indian Air Force (IAF) before the eventual manufacturer is selected.
"The Pillai committee will then submit its evaluation report and recommendations to the Defence Ministry, which will make the final decision on choosing partners for the project," defence officials told news agency ANI.
The maiden prototype of the AMCA is expected to be ready by 2028-29, before its first flight takes place in 2029. Serial production of India's first stealth fighter is to commence in 2035.
With the IAF down to just 29 squadrons against the sanctioned strength of 42 due to the phasing out of MiG-21s earlier this year, the AMCA project is crucial for maintaining an edge over its rivals in the region.
The IAF is scheduled to induct a minimum of 125 AMCA fighter jets once it is ready for production in the first half of the next decade.