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The fighter jets had taken off from the air base in Madhya Pradesh's Gwalior this morning.
Sources say one aircraft crashed in Madhya Pradesh's Morena and the other one went down in the forest area around Rajasthan's Bharatpur.
The Sukhoi Su-30 was carrying two pilots and the Mirage jet had one pilot, defence sources said. Both aircraft are used on the frontlines by the Indian Air Force.
While the two pilots of the Sukhoi aircraft ejected safely and are being treated at a hospital, the pilot operating the Mirage-2000 died in the accident. "Inquiry has been ordered to determine the cause of the accident involving the two aircraft," the Air Force said.
Defence Minister Rajnath Singh has been briefed about the accident, officials said, adding that he has been monitoring the developments closely.
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