Traditional allies Russia and India are poised to sign a $1.2- billion contract for 29 MiG-29K fighter jets for the Indian Navy's air wing. The deal was approved by the Cabinet Committee on Security (CCS), chaired by Prime Minister Manmohan Singh, top defense sources reportedly said.
A team from Russia will come to New Delhi this week to finalize the contract.
The defense ministry is also seeking CCS approval for the fresh contract for refit of aircraft carrier Admiral Gorshkov, with the renegotiated price of slightly over $2.3 billion.
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