Defence Minister Arun Jaitley visited the Palam air base where has was briefed about the aircraft and its capabilities by IAF chief Arup Raha, an IAF release said.
The Havard, which is a 1930s aircraft, was brought from the UK by the C-17 after it was restored there as part of IAF's plan to bring back to life its nine vintage planes, IAF officials said.
The C-17 is the biggest aircraft in IAF's inventory and the government had accorded approval to buy 10 C-17 Globemaster III along with associated equipment for the IAF in June 2011.
The first aircraft touched down in India on June 18 last year and the delivery of all 10 is expected to be completed by December 2014.
The aircraft will enhance the operational potential of the IAF with its payload carriage of 75 tonnes and performance and would augment the strategic reach, with about 4500 km range, of the nation during operations, disaster relief or any similar mission, the IAF said.