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The deal has been delayed since India began talks with Rafale's manufacturer Dassault Aviation last year.
BBC: Manmohan Singh: French fighter jet talks 'going well'
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Some even wondered if the Rafale could survive with France as its only customer.
ECONOMIST: India favours France��s Dassault
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The capabilities of both the Rafale and the Eurofighter were on display during the Libyan war.
ECONOMIST: India favours France��s Dassault
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But much depends on whether France's Dassault, which builds the new Rafale fighter, also joins the effort.
ECONOMIST: European armaments
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The Rafale was selected over jets from Boeing Co.
WSJ: India Still to Finalize Terms for Jet Deal With Dassault
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For example, besides both firms being members of the consortium that builds the Eurofighter (see picture above), EADS is a big shareholder in Dassault, manufacturer of the rival Rafale jet.
ECONOMIST: EADS and BAE Systems
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After seeing the Rafale rejected repeatedly over the past decade, by the Netherlands, South Korea, Singapore, Morocco, the United Arab Emirates and Switzerland, the French were desperate to win a contract.
ECONOMIST: India favours France��s Dassault
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The Rafale switches more easily into a ground-attack mode.
ECONOMIST: India favours France��s Dassault
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French Defence Minister Jean-Yves Le Drian said four Rafale fighter jets, flying from their base in France, had attacked and destroyed rebel training camps and logistics depots in Gao, which acted as back-up bases for terrorist groups.
BBC: Mali: France pledges 'short' campaign against Islamists