Though there is no confirmation from the Indian side over the development so far, Russia's state-run Sputnik news agency has reported that the two countries have reached to a mutual conclusion of manufacturing the rifles in India.
All About India-Russia AK-47 203 Rifles Deal
As stated in the media reports, the Indian Army has a requirement for around 770,000 AK-47 203 rifles. It is said that AK-47 203 is the latest and most advanced version of the AK-47 rifle. Amid the heavy demand, India is likely to import as many as 100,000 rifles while the rest will be manufactured in India. If the reports are to be believed, the Russian AK-47 203 rifles will replace the Indian Small Arms System (INSAS) 5.56x45 mm assault rifle.
The report further said that the deal has come as part of the joint venture Indo-Russia Rifles Private Limited (IRRPL), established between the Ordnance Factory Board (OFB), the Kalashnikov Concern and Rosoboronexport.
While OFB would have a majority stake of 50.5 per cent, the Kalashnikov Group would own a 42 per cent share and Rosoboronexport 7.5 per cent in the joint venture.
The cost of rifles to be imported from Russia is expected to be around USD 1,100 while the ones to be made in India would be little less expensive. The report stated that the 7.62, 39 mm Russian weapon will be manufactured at the Korwa Ordnance Factory in Uttar Pradesh.
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Other Major Deals With Russia
It is to be noted that the development has come at the time when India is locked in a border dispute with China. Since the Galwan Vally incident in which the country lost 40 brave soldier, India has been working on strengthen its aerial power by expanding arms and fighter aircrafts.
For the same, the Ministry of Defence (MoD) in July approved the proposal to buy 33 new fighter jets from Russia. These will include 12 Sukhoi 30 MKI and 21 Mig-19 fighter jets. The aerial defence had also requested centre to buy the entire lot of equipment associated with the fighter planes in an apparent bid to prevent the issue of spares in the future.
During the last visit to Russia earlier this year in June, Rajnath Singh had then spoke on strengthening defence and strategic partnership with Russia.
India had announced its plans to acquire the cutting-edge weapon system S 400 'Triumf in 2015. Despite the US disapproval of the plan and threats of sanctions, in October 2018 India signed the USD 5 billion S-400 air defence system deal at the 19th India-Russia annual bilateral summit.