Moscow, July 18: The Indo-Russian cooperation in defense sector goes one step further with a new deal. Joint venture to produce the Kamov military helicopters under a USD 1 billion deal has been registered in India. The co-production will be emphasized. A senior official of the Russian defense major Rostec has told about the deal.
Everything will be in the hands of the joint venture. Now initiative all goes to this joint venture," Kladov, the head of the Department of International Cooperation and Regional Policy, Rostec State Corp said. "It is registered in India because judicially it is in India. It was approved by the Russian Government in April and then after having been approved by the Russian government, it was registered in India," the top Rostec official said.
When he was asked about up gradation of Sukhoi Su-30MKI Kladov answered it is under evaluation. "This question as far as I know was raised between President Vladimir Putin and esteemed Prime Minister Modi in St Petersburg last month. The Indian prime minister once again reiterated that the Indian side needs time to evaluate its strategy of development and how to spend money," he said.