India and Russia have inked agreements for the procurement of nearly six lakh AK-203 assault rifles and also to extend military technology cooperation for the next decade from 2021 to 2031 as the two countries began their first 2+2 ministerial dialogue on Monday morning.
Another agreement for protocol on an amending agreement on cooperation in the field of Kalashnikov series small arms manufacturing was also signed. Defence minister Rajnath Singh met his Russian counterpart Sergey Shoigu and the two sides signed contracts for the manufacture of nearly six lakh AK-203 rifles under a joint venture in Amethi, Uttar Pradesh.
The deal is worth over Rs 5,000 crore and the project will be implemented by a special purpose joint venture called Indo-Russia Rifles Private Ltd.