India and Russia are set to finalize the modalities of the much anticipated logistic support agreement during the meeting of the India-Russia Intergovernmental Commission on Military and Military-Technical cooperation on Friday. Russian Defence Minister Sergei Shoigu is scheduled to arrive in New Delhi on November 12 to take part in a plenary session of the Indian-Russian Intergovernmental Commission on Military and Military-Technical cooperation. He is being accompanied by Dmitriy Shugaev, Director, Federal Service for Military-Technical Cooperation (FSMTC) of the Russian Federation.
"Russia had proposed such military logistics agreement with India in July this year. We have completed all the consultation. The two sides are expected to work on the modalities of it during the meeting," an official who did wish to be named told Sputnik.
"Both sides expressed satisfaction at the significant progress made on the ongoing projects of military-technical cooperation and recognized the positive shift towards joint research and joint production of military-technical equipment between the two countries," the joint statement issued after the bilateral annual summit read.
India and Russia have already signed a number of multi-billion defense deals since the annual summit in October this year. Besides the conclusion of $5.43 billion S-400 contract, the two countries also recently signed a $1.5 billion deal for four frigates equipped with BrahMos supersonic cruise missiles. India has also chosen Russia's Igla-S for the $1.5 billion contract for the supply of 5185 Very-Short-Range Air Defense system to the Indian Army. Last week, Sputnik reported about India's intention to lease the third Akula class submarine for the Indian Navy at $3.3 billion which will come up for discussion during the meeting this week.
The two sides will also review the progress on the government-to-government agreement under which the Kalashnikov AK-series rifles will be produced at India's state-owned Ordnance Factory Board (OFB) at Trichy and the Rifle Factory at Icapore.