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India, Russia to build military transport planes

India, Russia to build military transport planes

New Delhi: India and its biggest military supplier Russia announced Friday a $600 million joint venture to manufacture military transport aircraft for the two countries.

The 50:50 venture was signed by India’s state-owned Hindustan Aeronautics Ltd, Russian United Aircraft Corp and the Russian state-run arms exporter Rosoboronexport, the Indian defence ministry said in New Delhi.

The “15-20 tonne payload capacity aircraft would meet the requirements of the Indian Air Force and the Russian Air Force," the ministry said in a statement.

Russia is also in the race for a $12 billion contract to sell 126 fighter jets to the Indian Air Force and supply hundreds of combat helicopters to the country’s million-plus army.

Russia supplies more than 70% of India’s military hardware.

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