India and Russia inked an agreement for joint production of over six lakh AK-203 assault rifles at a manufacturing facility in Uttar Pradesh's Amethi besides firming up another pact on military cooperation for 10 years.
Context
India and Russia inked an agreement for joint production of over six lakh AK-203 assault rifles at a manufacturing facility in Uttar Pradesh's Amethi besides firming up another pact on military cooperation for 10 years.
- The AK – 203 along with the SIG716 will replace the AK – 47 and INSAS rifles of India.
- The SIG716 is manufactured by US based SIG Sauer.
Key-highlights of the Agreement
- The deal was finalised at the 20th meeting of India-Russia Inter-Governmental Commission on Military & Military Technical Cooperation (IRIGC-M&MTC) led by defence minister of both the countries.
- The agreement was signed under the Indo – Russia Rifles Private Limited Programme.
- The rifles are to be manufactured at a cost of Rs 5,000 crores.
- The countries also signed a treaty to amend the agreement on Cooperation for Kalashnikov series small arms manufacturing.
- This treaty was signed in 2019.
- Under this, both sides are to extend military technology cooperation for the next decade, that is, between 2021 and 2031.
Indo – Russia Rifles Private Limited
- Indo – Russia Rifles Private Limited is a joint venture called Indo-Russian Rifles Private Limited (IRRPL) that was formed by Advanced Weapons and Equipment India Limited and Munitions India Limited, and Russia’s Rosoboronexport and Kalashnikov.
- The Kalashnikov is one of the most widely used guns in the world.
- It is a rifle manufacturing facility in Amethi, Uttar Pradesh.
- The Indian and the Russian entities hold a share capital of 50.5% and 49.5%, respectively.
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