India's Ministry of Defence plans to procure 670,000 Ak-203 Kalashnikov assault rifles, and 70,000 are delivered. The contract was signed on 6th December 2021.  The total cost of the contract is around Rs __________ cr.

Solution

Russia has delivered to India all the contracted 70,000 AK-203 Kalashnikov assault rifles as envisaged under a contract signed between India and Kalashnikov. India's Ministry of Defence plans to procure 670,000 Ak203 assault riffles, and the 70,000 delivered is part of the overall objective. Rest all 600,000 will be manufactured in India's Amethi under a joint venture, the contract for which was signed 6th December 2021. The total cost of the contract is around Rs 5000 cr. As part of India's localisation of defence manufacturing, a special purpose Joint Venture called Indo-Russian Rifles Private Ltd (IRRPL) has been created for the production of 600,000 AK 203 in India. Joint Venture is between India, represented by the Defence PSUs-Advanced Weapons & Equipment India Limited (AWEIL) & Munitions India Limited (MIL) and Russia, represented by Rosoboronexport ( RoE ) & Concern Kalashnikov (CK).