India-Russia strike USD 3 billion defence deal

India-Russia strike USD 3 billion defence deal

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India is keen on growing its military prowess, which is evident by the Asian country’s recent move to strike a defence deal with Russia worth USD 3 billion. Russia and India made the move at the end of the 13th India-Russia Annual Summit.

There have been a variety of contracts that have been chalked up as part of the deal. These include USD 2.2 billion for the legal production of 42 Su-30MKI aircraft, which will be assembled in India. The Russian Rosoboronexport will be coordinating with Hindustan Aeronautics Limited (HAL) for the delivery and assembly in the country.

The president of Russia Vladimir Putin and the Indian president Manmohan Singh struck a USD 1.3 billion deal for Russia to send over 71 Mil Mi-17 military helicopters as well, as part of the USD 3 billion deal.

Dr RK Tyagi, who is the chairman of HAL said that the deal will boost the confidence of the firm, as they have already sent over 119 Su-30 aircraft to the Indian Air Force (IAF). The IAF has around 170 Su-MKI aircraft in production, with the number set to swell to 272 within the next few years.

Manmohan Singh said that in order to modernise his country’s armed forces, Russia will play a key role, as the two have various joint projects in progress related to design, development and production.