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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