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Business News/ News / World/  India, Russia may sign pact to manufacture over 500,000 AK 203 assault rifles

India, Russia may sign pact to manufacture over 500,000 AK 203 assault rifles

  • The pact is expected to be one of the key takeaways during a visit by Russian president Vladimir Putin on Monday

Putin will be in India for the annual Russia-India summit dialogue with Prime Minister Narendra Modi.

NEW DELHI: India and Russia are expected to sign a pact to manufacture over 500,000 units of AK 203 assault rifles after New Delhi cleared the deal on Saturday, according to a person familiar with the matter.

The pact is expected to be one of the key takeaways during a visit by Russian president Vladimir Putin on Monday.

Putin will be in India for the annual Russia-India summit dialogue with Prime Minister Narendra Modi.

The summit, instituted in the year 2000, was not held last year due to the covid-19 pandemic.

Ahead of the summit between Modi and Putin, India and Russia will also hold their first ever 2+2 Foriegn and defence ministerial talks.

The AK 203 deal is worth an estimated 5000 crores and the unit is to come up at Korwa in Amethi, Uttar Pradesh, cementing the state’s credentials as a defence manufacturing hub. Uttar Pradesh which goes to the polls in the first half of next year hosts the northern defence industrial corridor.

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