Thursday, December 24, 2015

Reliance signs pact with Russian arms firm as Modi visits Moscow


Russia's President Vladimir Putin) and India's Prime Minister Narendra Modi walk during a meeting at the Kremlin in Moscow, RussiaReliance Defence said on Thursday it had signed a manufacturing and maintenance deal potentially worth $6 billion with Russia's Almaz-Antey, the maker of an air defence system that sources said the Indian military was poised to buy. The partnership between the Indian firm controlled by billionaire Anil Ambani and the Russian firm was announced as Indian Prime Minister Narendra Modi began a trip to Moscow aimed at strengthening defence ties. Earlier this week, Indian defence ministry sources said the government had cleared the purchase of five S-400 air defence systems that are estimated to cost about $4.5 billion in a bid to modernise the country's defences against airborne attacks.


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