India could agree on extra $1.2 bln for Admiral Gorshkov

Russia is hoping to reach an agreement with India in August on an additional $1.2 billion to finalize the overhaul of the Admiral Gorshkov aircraft carrier for the Indian Navy, a Russian newspaper said on Thursday.

The next round of talks to determine the final funding amount for the carrier's repair and modernization is due to take place in India within the next few days.

According to Nezavisimaya Gazeta newspaper, India has no alternative but to allocate the required $1.2 bln, despite recent objections from the government's accounting office, because the Indian Navy desperately needs to replace its INS Viraat, which, although currently operational, is now 50 years old.

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