The company is pitching a little-known naval variant of its Gripen NG fighter, called the Sea Gripen, which is intended to be capable of both CATOBAR as well as STOBAR carrier operations.
A cost escalation of 50 percent (INR 63,000 crore, in this case) or more, requires approval again from the Ministry of Finance, before the Defense Acquisitions Council (DAC) can proceed with it. With the cost of the tender for India safely ranging from INR 83,000 crore to 1,25,000 crore, the revision of the estimated expenditure on the MMRCA would require the approval of the finance ministry.