Quantcast
Friday , August 18 2017
Breaking News
Home / International Customs / Russian Federation sign key defence deals
Russian Federation sign key defence deals

Russian Federation sign key defence deals

MOSCOW: Another agreement was also signed to provide lifecycle support and maintenance of major Russian equipment and platforms for Mi-17 helicopters, MiG-29K aircraft, INS Vikramaditya and T-90 tanks. The Minister further said that since the signing of the India-Russia Strategic Partnership in 2000, ties between the two sides have acquired new heights with enhanced level of cooperation in nearly all areas including defence.

Russia’s United Aircraft-Building Corporation has signed a deal with India’s Hindustan Aeronautics Limited (HAL) to provide maintenance services for Russian-made Sukhoi Su-30MKI fighter jets operational in the Indian Air Force, a TASS correspondent reports from the signing ceremony. Defence and Finance Minister Arun Jaitley today called upon Russian companies to come forward for technology transfer to Indian entities and facilitate manufacturing of components in those cases where the requirement was in large numbers and recurring in nature. Rosatom, Russia’s government-owned nuclear power corporation, has recently inaugurated its second reactor at the Kudankulam power plant in southern India. The licensed production of the aircraft takes place at HAL’s facility in Nashik, Maharashtra. “We are constantly searching for new ways to strengthen our trade ties to reach the target of $30 billion in annual turnover by 2025, the figure that was agreed on by our leaders earlier”, Russian Trade and Industry Minister Denis Manturov told RT during his visit to India. “We also expect that the development of [Russian] civil aviation industry would involve contribution of Indian manufacturers of aircraft components“, the minister said, adding that Moscow welcomes India’s investment in Russian Helicopters, one of the largest defense contractors in the world, as measured by annual revenues.

The announcement comes in the backdrop of newly appointed Defence Minister Arun Jaitley pressurising Russian Federation to share its defence technology, without which India faces operational problems in upgrading its Russia-originated defence equipment. From India, over 100 private companies including several SMEs were present. The event is organized by Ministry of Defence. Apart from deliberations on various policy issues, break-out sessions on aerospace, naval systems and land systems are also planned. The conference will provide an opportunity to the Indian industry to explore possibilities of manufacturing of parts/ components of Russian equipment in India through partnerships with Russian companies.