- India signed an agreement with Russia for the Procurement of 7,50,000 'AK-203' Assault Rifles for the Indian Army.
- Under this Agreement, Approx 1,00,000 rifles are to be received directly from Russia and the remaining will be manufactured at Korwa in Uttar Pradesh.
- And, It will be manufactured under a Joint Venture named Indo-Russian Rifles Private Limited (IRRPL). As per this Joint Venture, India will own 50.5% share and Russia 49.5%.
Published On : 07 Jan 2020
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