New Delhi: In a major deal for India's private defence industry, Anil Ambani-led Reliance Group and Rafale maker Dassault Aviation today announced a joint venture (JV) that will be a "key player" in execution of offset contract worth about Rs 22,000 crore as part of the fighter jet deal.

The announcement of the JV, Dassault Reliance Aerospace, comes within days of India and France on September 23 signing an agreement for 36 Rafale fighter jets at a value of euro 7.87 billion, or about Rs 59,000 crore.