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Friday, October 08, 2010

India, Russia Firm Up Air Force Deals

Sukhoi PAK FA (T-50)India and Russia firmed up plans Thursday for two mega defense deals to jointly design, develop and manufacture the Fifth Generation Fighter Aircraft (FGFA) and Multi-role Transport Aircraft (MTA).

Addressing a joint press conference with Russia's Defense Minister Anatoly Serdyukov, India's Defense Minister A K Antony said New Delhi would receive 300 FGFA--worth about $30 billion--and 45 transport planes from Russia in the next ten years.

The announcement came despite Indian concerns over delayed Russian deliveries, shortage of spares and huge cost escalations as also amid reports that MiG-35 was losing out on a separate $10-billion tender for 126 multi-role fighters.

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