Source : Indian Defence Updates (IDU)

IAF to approach DAC for AoN of 114 MRFA fighter deal, to issue RFP after getting AoN
The Indian Air Force will approach the Defence Acquisition Council (DAC) by the second quarter of this financial year to get Acceptance of Necessity (AoN) for the procurement of 114 fighters under MRFA (Multi Role Fighter Aircrat) program after which the Indian Air Force will issue a Request For Proposal (RFP) for the $15 billion aircraft procurement later this year.
The Request For Proposal (RFP) document will deal with various issues relating to the initial purchase, Transfer of Technology, licensed production and lifetime maintenance, support for the aircraft.
Several firms and aircraft are on offer includes Dassault Aviation’s Rafale F4 (France), Lockheed Martin’s F-21 (United States), Boeing F-15EX (United States), UAC Sukhoi Su-35 (Russia), SAAB Gripen-E (Sweden) and Eurofighter Typhoon (Britain).