17:11 GMT10 July 2020
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    India’s cabinet committee on security chaired by Prime Minister Narendra Modi approved the purchase of 145 M777 ultra-light howitzers from the United States, and the intergovernmental agreement could be signed within three weeks.

    MOSCOW (Sputnik) — According to the Economic Times, the deal is worth $737 million and includes a 30-percent offset clause, which envisages reverse investment of the exporting country (the United States) in the economy of the importing state (India).

    "The Pentagon's letter of offer and acceptance (LoA) to India is valid till November 20, but it can be extended for another 10-15 days," the newspaper quoted defense ministry sources as saying.

    The 155-mm howitzers would reportedly enter service with the Indian Army in mid-2017.

    India and the United States have been negotiating the deal for several years. In 2015, the manufacturer BAE Systems proposed to create a special center in India where howitzers would be assembled, integrated and tested by BAE Systems and India’s Mahindra. According to project, 120 out of 145 howitzers will be produced in India.


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