Dassault CEO Eric Trappier was part of Le Drian's delegation, an AFP reporter accompanying the minister on the flight said.
Paris had stopped short of confirming the deal approved on Wednesday by Prime Minister Narendra Modi's cabinet committee on security, with government spokesman Stephane Le Foll saying France was waiting for "things to be said officially".
But a senior Indian defence ministry official said that Le Drian and his Indian counterpart Manohar Parrikar would sign the accord on Friday.
The long-delayed deal is the biggest order for the Rafale after Egypt and Qatar each ordered 24 of the jets last year.
India entered exclusive negotiations four years ago on buying 126 Rafale jets, but the number of planes was drastically scaled back in tortuous negotiations over the cost and assembly of the planes in India.
Details of the agreement - notably the price tag - "will become clear after the signing event", the Indian official said.