Indian, Russian firms in $6b defence deal
Prime Minister Narendra Modi inspects the honour guard during a welcoming ceremony upon his arrival at Moscow's Vnukovo Airport, Russia, December 23, 2015. PHOTO: REUTERS
India’s Reliance Defence said on Thursday it had signed a manufacturing and maintenance deal potentially worth $6 billion with Russia’s Almaz-Antey, the maker of an air defence system that sources said the Indian military was poised to buy.
The partnership between the Indian firm controlled by billionaire Anil Ambani and the Russian firm was announced as Indian Prime Minister Narendra Modi began a trip to Moscow aimed at strengthening defence ties.
Earlier this week, Indian defence ministry sources said the government had cleared the purchase of five S-400 air defence systems that are estimated to cost about $4.5 billion in a bid to modernise the country’s defences against airborne attacks. “The two sides identified the air defence missile systems.... radars and automated control systems as areas of partnership.... as well as offset policies of the Indian Ministry of Defence,” Reliance said in a statement.
India is forecast to spend $250 billion over the next decade to upgrade its military.
Published in The Express Tribune, December 25th, 2015.