DAC clears AK-203 deal with Russia
The Hindu
Inter-Governmental Agreement was signed in 2019; a JV was set up in U.P. for manufacturing the rifles
The Defence Acquisition Council (DAC) which met under the Chairmanship of Defence Minister Rajnath Singh on Tuesday approved the long-pending deal for the manufacture of 6.71 lakh AK-203 assault rifles in India, according to a defence source.
This comes ahead of Russian President for the India-Russia annual summit. Mr. Putin is scheduled in India for the summit on December 6, when the two sides will also hold their inaugural 2+2 ministerial dialogue.
The two countries had signed an Inter-Governmental Agreement (IGA) in February 2019 following which a Joint Venture, Indo-Russian Rifles Private Limited (IRRPL), was set up at Korwa in Uttar Pradesh for manufacturing the rifles.
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