NEW DELHI, Nov. 7 -- 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 around 250 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 production and export hub for the C-390 as 40-45% of the addressable market for this class of aircraft is here in Asia. That translates into a demand for roughly 250 aircraft over the next 20 years," Costa Junior said in an interview with HT. The remarks come three months after the government initiated the procurement of 60 transport aircraft for the IAF, inviting bids from five Indian companies: Mahindra Group, Tata Advanced Systems Limited, Adani Defence & Aerospace, Hindustan Aeronautics Limited and Reliance Defence. The Indian firms are bidding for the programme in partnership with global OEMs (original equipment manufacturers)....