NEW DELHI, Nov. 6 -- Brazilian aerospace major Embraer sees the Indian Air Force's push to modernise its transport fleet as an opportunity to establish C-390 Millennium production in India, with locally made aircraft potentially serving a wider Asian market that could require 500 planes of this class over the next 20 years, Embraer Defense & Security CEO Bosco da Costa Junior said on Friday.

Embraer and Mahindra Group are jointly bidding for the IAF's medium transport aircraft (MTA) programme, targeting a potential Rs.1 lakh crore contract for 60 aircraft.

"We believe we have the right platform, and see India as a strategic partner. We are not here just to sell 60 aircraft and return to Brazil. Embraer is looking at India as a productio...