India Russia decide to go for joint defence ventures worth billions of dollars

India Russia decide to go for joint defence ventures worth billions of dollars

NEW DELHI - India and Russia have decided to go for joint defence ventures worth billions of dollars.

As per media report, Defence ministers of India and Russia held intensive talks Thursday on deepening defence ties and joint manufacturing projects, including the Kamov-226 helicopters, naval frigates and projects related to land systems, the Defence Ministry said.

In a meeting of the 18th India-Russia Inter-Governmental Commission on Military Technical Cooperation (IRIGC-MTC) held here, the two sides also agreed to take forward inter-governmental arrangements for facilitating joint manufacturing of spares for Russian origin equipment in India under the 'Make in India ' initiative, PTI has reported.

The meeting was co-chaired by Defence Minister Nirmala Sitharaman and her Russian counterpart General Sergei Shoigu.

In the framework of the bilateral Special and Privileged Strategic Partnership, the IRIGC-MTC meeting discussed a wide range of issues relating to defence equipment, industry and technological engagement between India and Russia as well as after-sales support, upgradation of military equipment of Russian origin, it said.

Shoigu's visit to India assumes significance as a deal was signed between India and Russia to buy Russian S-400 air defence missile system. The two countries have also signed a deal to build two frigates in Goa for the Indian Navy.

Russia 's state-owned arms exporter, Rosoboronexport, has also emerged as the lowest bidder for India 's USD 3 billion tenders to source short-range air defence missile systems.

India had gone ahead with the S-400 deal with Russia notwithstanding US sanctions on military transactions under the Countering America's Adversaries Through Sanctions Act (CAATSA).

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