India and Russia have agreed to expedite modalities for the proposed project for the joint design, development and production of the fifth generation fighter aircraft (FGFA).
The tenth meeting of the India-Russia Inter-Governmental Commission on Military Technical Cooperation (IRIGC-MTC) expressed satisfaction at the conclusion of the shareholders agreement for formation of a joint venture company for the development and production of the multi role transport aircraft (MTA).
The IRIGC-MTC also took note of the progress on several major projects since its last meeting, which was held in Moscow in October 2009.
"India hopes to get 45 MTA and also finalise the FGFA, … all the issues we have discussed and solved between our two countries… now it is in the final stages with the Indian government, some technical formalities between the governments are needed and I am sure we will be able to complete it very soon…within a few months," defence minister A K Antony later told a joint press conference.
"As per this agreement, India will receive approximately between 250-300 most modern FGFA. These two projects are the major achievements of this year and for the next ten years these two projects, MTA and FGFA, will be a shining example of India and Russian defence cooperation," he added.
"We have very good big plans and we have very serious projects and work before us. And this, as I said, will be a big challenge and we will try to do our best in order to prove that our bilateral cooperation can give us very good practical results," said Serdyukov.