What are the key points of the deal?
Under this India is immediately going to procure AK-103 series of assault rifles from Russia. Deal was finalised under the provisions of emergency procurement.
Indo-Russia Rifles Private Limited (IRRPL) will jointly manufacture this rifle. And a single rifle will cost nearly $1100, which will include the manufacturing unit cost as well as the cost of technology – transfer.
Modernization plans of India
Under the modernization plan, the Indian army is purchasing a huge number of light machine guns, assault rifles and battle carbines which will replace ageing weapons.
The Indian Army needs 770,000 AK-47 203 rifles. While 100000 will be imported from Russia and the remaining numbers of rifles will be manufactured in India.
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The AK-47 203
The AK-47 203 is the latest and most advanced version of the AK-47 rifle, which will replace the Indian Small Arms System (INSAS) 5.56×45 mm assault rifle which is almost 25 years old.