Issues related to the $1-billion Indo-Russian Kamov-226 helicopters, progress of Project 1135-6 frigates for the Indian Navy and T-90 tanks for the Indian Army, among other issues, will top the agenda of talks when Russian minister for industries and trade Denis Manturov, arrives in New Delhi on March 17.
Issues
related to the $1-billion Indo-Russian Kamov-226 helicopters, progress of
Project 1135-6 frigates for the Indian Navy and T-90 tanks for the Indian Army,
among other issues, will top the agenda of talks when Russian minister for
industries and trade Denis Manturov, arrives in New Delhi on March 17.
The minister is arriving on a two-day visit. Sources told FE,
“Besides meeting with the new defence minister Arun Jaitley, three sets of meetings have been
planned for the visiting minister. He will meet officials of Indian Army, Navy
and the Air Force. Also, there will be a meeting with the Indian industry
captains from the defence sector.”
“The interaction between the Russian side and the Indian armed forces, as well
as the industry, is to see how all can work together as a support system,”
sources added.
Under the Indo-Russian joint venture inked at the BRICS summit
in Goa, 140 Kamov-226 helicopters are to be built in India as part of Prime
Minister Narendra Modi’s ‘Make in India’ initiative. Russian government
firm Rostec Corporation has a 49.5% stake and state-owned Hindustan Aeronautics
(HAL) has a 50.5 % stake.
Last month, during a media interaction at Aero India, HAL chief
T Suvarna Raju, responding to a query, had said that “documents related to the
deal had been sent to Russian President Vladmir Putin for approval”.
However, deputy director general of Rosoboronexport Sergey Goreslavsky told the
media, “There are issues between parties, but these are being tackled.’’
Sources told FE, “The venture has not taken off as it has run
into delays related to issues including bank guarantees. Due to US-related
sanctions imposed on Russian Rosoboronexports, payments could run into problems
and these are issues that need to be ironed out.”
In one of his earlier visit to India, Manturov had said, “Russia
is looking forward to invest in India in collaboration with the central
government, especially in manufacturing spare parts of aircraft and making
defence planes.” Manturov will also discuss Project 1135-6 frigates for the
Indian Navy, as Moscow and New Delhi are looking at the possibility of
transporting the hulls of the frigates, currently located at the Yantar
shipyards in Kaliningrad Oblast, to India for their completion and the
installation of engines.
Though no shipyard has been identified yet, sources said, “The Russian
private sector is interested in jointly developing the coastal and internal
infrastructure in Andhra Pradesh and this too could be on the table for
discussions when the minister meets the industry honchos.”
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