Defence

India, Russia Could Sign Whopping $15 Billion Inter-Governmental Defence Agreements

India and Russia are set to ramp up their military cooperation by executing contracts worth almost $ 15 billion, and also ink an Inter-Governmental Agreement (IGA) under which the two sides are expected to go in for joint development and production of military platforms and spare parts.

However, the cooperation was briefly stuck over pricing and production issues for Kalashnikov AK-203 7.62 mm Assault Rifles 200 series. According to FE sources, India and Russia are set to sign a joint venture agreement to manufacture Kalashnikov AK-203 7.62 mm Assault Rifles 200 series to fulfil Indian security forces’ requirement for small arms.

“Later this week, there is an IGA between the two countries related to the manufacturing of the world-famous Kalashnikov assault rifles of the newest 200 series. There were issues related to the pricing of these rifles and the full local production.

Those issues have been resolved and most likely there is a certain number of assault rifles which will come from Russia. And the balance will be produced here.” “There is an IGA in place already, but there were some issues, that have now been sorted out,” said the source quoted above.

Last year after the annual summit, both the countries had decided to extend the agreement for mutual military and technical cooperation by almost 10 years and will now end in 2030.

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eurasian times
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