Russia, India agree to set up joint venture to manufacture transport planes

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MOSCOW, October 8 (Itar-Tass) - Russia and India have signed a
shareholder agreement of a joint venture for the development and
manufacture of multi-purpose transport planes, a spokeswoman for the
Russian Defence Minister told Itar-Tass on Friday, commenting on the
results of the 10th meeting of the Russian-Indian intergovernmental
military technical cooperation commission in New Delhi.
"In September 2010, at a meeting of the commission's working groups a
shareholder agreement was signed of a joint venture for the development
and production of multi-purpose transport aircraft," said Irina Kovalchuk.
"At the commission's meeting in New Delhi on Thursday, the sides agreed to
finalize the formation of the joint venture and to take up practical work."
"The Indian side said it would be ready in the near future to sign a
contract on joint design works for the would-be multi-purpose fighter
plane. The sides also agreed to continue talks on the modernization of
T-72 tanks, BMP-2 infantry combat vehicles, and Mi-17 helicopters of the
Indian army," she said.
Russia and India have and agreement on a joint venture for the
development and manufacture of multi-purpose transport planes, India's
Defence Minister Arakkaparambil Kurian Antony reiterated on Thursday. The
joint venture is to be set up the soonest possible, he stressed and added
that India seeks to buy 45 such aircraft.
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