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JUNE 2021

Russia, India to Agree Deals Worth Up to $150bn

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Indian Prime Minister Narendra Modi [SF editor: He is on a two-day visit to Moscow] has announced a large development program for the India’s armed forces. It could be worth $150 billion.
Russia, India to Agree Deals Worth Up to $150bn

Prime Minister of India Narendra Modi is welcomed in Moscow during a ceremony held upon his arrival at the airport © Anton Denisov / Sputnik

The announcement came amid the India’s plan to sign a number of multi-billion dollar defense and nuclear energy deals with Russia.

New Delhi has already approved the purchase of five Russian S-400 air defense systems. It will be a part of the biggest arms deal between the two countries in a decade.

The purchase of 200 light Ka-226T helicopters is among other arms contracts which will be signed. The Russian helicopters would replace India’s outdated Cheetah and HAL Chetak machines.

The countries are also expected to agree the lease of a Russian nuclear submarine and the purchase of three Russian battleships.

Meanwhile, the negotiations for joint production of Russia’s PAK FA (T-50) fifth-generation fighter jets are continuing.

Another part of thee agenda is energy cooperation, investment and trade. Trade between Russia and India is planned to increase from $11 billion to $30 billion over the next decade.

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