Page 9 - Advanced Weapons News Today

India is set to ink a defence logistics sharing agreement with Russia, almost five years after signing a similar pact with the United States. The bilateral Reciprocal Exchange of Logistics Agreement is one of nearly 10 pacts India and Russia will sign during Prime Minister Narendra Modi’s summit with Russian President Vladimir Putin on Monday.

New Delhi, Dec 5 (Prensa Latina) During President Vladimir Putin's upcoming visit to New Delhi on Monday, to participate in the annual summit with Prime Minister Narendra Modi, Russia and India will sign an agreement for the latter to make more than 600,000 AK-203 rifles, according to a press release.

An Indo-Russian unit will be set up at Korwa in the Amethi district of Uttar Pradesh to manufacture over five lakh AK-203 assault rifles.

The project will provide business opportunities to various MSMEs and other defence industries for supply of raw material and components, which will lead to generation of new employment opportunities. 

The government has given its final approval to a nearly Rs 5,000 crore deal to manufacture over 5,00,000 AK-203 rifles by an Indo-Russian joint venture at a manufacturing facility in Amethi in Uttar Pradesh, official sources said on Saturday. The mega deal is expected to be formally announced at a summit between Prime Minister Narendra Modi and Russian President Vladimir Putin

The government has decided to convert the Ordnance Factory Board (OFB) from a department, into seven fully government-owned corporate entities to improve self-reliance on the countrys defence preparedness

India’s defence exports increased by 325 per cent in the last five years, Prime Minister Narendra Modi said on Friday

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New defence firms will create opportunities for youth, MSMEs: PM Modi - The country has already placed orders worth Rs 65,000 crore for these new companies, said Modi.

PM Modi today said that 41 Ordnance factories are being converted into 7 government-run corporate entities, as a measure to improve our self-reliance and defence preparedness. He said the "goal is to make India the world's biggest military power".