India, Russia finalise AK-47 203 rifles deal, says report

Indian Defence News: India and Russia have finalised a major deal for manufacturing AK-47 203 rifles in India during Defence Minister Rajnath Singh's ongoing visit here, the official Russian media reported on Thursday.

India, Russia finalise AK-47 203 rifles deal, says report

New Delhi : India and Russia have finalised a major deal for manufacturing AK-47 203 rifles in India during Defence Minister Rajnath Singh's ongoing visit here, the official Russian media reported on Thursday. The AK-47 203 is the latest and most advanced version of the AK-47 rifle, which will replace the Indian Small Arms System (INSAS) 5.56x45 mm assault rifle. Representational Image The Indian Army has a requirement for around 770,000 AK-47 203 rifles, of which 100,000 will be imported and the rest will be manufactured in India, Russia's state-run Sputnik news agency said. The rifles will be manufactured in India as part of the joint venture Indo-Russia Rifles Private Limited (IRRPL), established between the Ordnance Factory Board (OFB), the Kalashnikov Concern and Rosoboronexport-the Russian state agency for military exports, it said. The OFB would own a majority stake of 50.5 per cent in IRRPL while the Kalashnikov Group would have a 42 per cent share. Russia's state-o…

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