India to Buy Rescue Aircraft from Japan for $1.6bn

India's Defence Ministry to purchase 12 amphibious rescue aircraft from Japanese manufacturer ShinMaywa Industries worth $1.5 billion-$1.6 billion. 
The (Nikkei) news paper quoted Japanese Defense Ministry senior officials as saying on Sunday that India's Defence Ministry will approve the purchase of 12 US-2 aircraft at a Defense Acquisitions Council meeting on Monday. 
The deal will be included in a memorandum of understanding to be signed during Indian Prime Minister Narendra Modi's visit to Japan from Thursday to Saturday, the Nikkei said. 
Abe will also urge Modi during the visit to expand its usage of Japan's high-speed train technology. 
Japan and India have been holding talks on this deal for more than two years. It would be one of Japan's first sales of military equipment since Prime Minister Shinzo Abe lifted a 50-year ban on arms exports