India signs $4-bn defence deal with Russia
24 Dec 2012
India today signed defence deals worth around $4 billion (Rs22,000 crore) with Russia, including purchase of 42 new Su-30 MKI combat aircraft and 71 Mi-17V5 medium-lift helicopters.
The agreements were signed after Prime Minister Manmohan Singh and Russian President Vladimir Putin held wide-ranging discussions on areas of cooperation and the evolving Asian order.
The two countries signed 10 bilateral agreements, including the Sukhoi aircraft deal and on promoting bilateral investments in diverse areas, as the two sides reaffirmed their commitment to the strategic partnerships at the ongoing 13th India-Russia Annual Summit in New Delhi.
Defence cooperation, which has been the basis of India-Russia relations, received a boost with military-technical contracts for delivery of 71 Mi-17V-5 helicopters.
India had agreed to procure 59 Mi-17 v5 MLH in February 2010 and had since increased the number to 71.
Also, Russia will deliver 42 technological kits for SU-30MKI aircraft under an agreement for licensed production of the fighter jets by Hindustan Aeronautics in India.
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
.jpg "Indian Oil, Panasonic team up for lithium-ion cell production in India")
