With Russian President Vladimir Putin expected to visit India next month, Defence Ministry on Tuesday gave its final clearance to over Rs 5,000 crore deal with Russia to manufacture 7.5 lakh AK-203 assault rifles in Uttar Pradesh's Amethi.
The AK-203 assault rifles deal, which may be signed during the visit, was cleared by the defence acquisition council meeting on Tuesday, defence sources told ANI.
The Russian-designed AK-203 will be made in a factory in Amethi.
The deal had been agreed upon between the two sides a few years ago and now the last major issue would be resolving the issues on the transfer of technology, they said.
Of the 7.5 lakh rifles to be acquired by the Indian Army, the first 70,000 will include Russian made components as the transfer of technology happens slowly.
These will be delivered to the Army 32 months after the production process begins. (ANI)