India Seals Rs 70,000 cr Missile Deal with Russia

New Delhi: In what could easily be said the biggest ever defence deal with Russia, India has stitched a contract to acquire S-400 anti-ballistic missile systems from Moscow at a cost of around Rs 70,000 crores, top sources in the Defence Ministry said here today.

The modalities, including the price of deal and number of systems to be acquired, were agreed upon in the meeting of India-Russia Inter Governmental Commission on Military-Technical-Cooperation (IRIGC-MTC) which concluded today in Moscow, with Defence Minister Manohar Parrikar co-chairing it jointly with his Russian counterpart Sergei Shoigu.

The mega deal, along with an agreement to get another nuclear submarine, is likely to be formally signed during the visit to Russia of Prime Minister Narendra Modi, who would be travelling to Moscow sometime in December for an annual summit with President Vladimir Putin, the sources told UNI.