Hope to sign Fifth Generation Fighter Aircraft deal with India by year-end: Russia


With military deals worth about Rs 60,000 crore signed and sealed with India here, Russia is hopeful that another big ticket agreement on Fifth Generation Fighter Aircraft will be inked by year-end.  “The agreement had been completed on our end, we are ready to sign it. It is now down to the Indian side.  “There are some formalities to figure out, but I think it will be signed by the end of this year,” Sergei Chemezov, CEO of Rostec State Corporation, a Russian umbrella organisation of 700 hi-tech civilian and military firms, said here.  After a hiatus of nearly a year, India and Russia had in February revived talks on the much delayed FGFA project after a clearance from Defence Minister Manohar Parrikar.  Since then, a lot of issues related to work share, IPR and technology transfer among others have been sorted out between the two sides along with the monetary commitments.  Under the new offer, India will have to pay about $3.7 billion, instead of $ 6 billion, for the technological know-how and three prototypes of the fighters, defence sources have said.

Source: http://economictimes.indiatimes.com/

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