MOSCOW, June 4 (AVN) - Russian Defence Minister Sergei Ivanov will meet Indian Foreign and Defence Minister Jaswant Singh here on Wednesday to discuss prospects of bilateral co-operation in the military sphere, a spokesman for the Russian Defence Ministry said.
The two officials are expected to conclude agreements on joint production of armament in the interests of the Indian Air Force, Air Defence, Navy and Land Forces, the spokesman told the Military News Agency.
According to him, over 35 percent of Russian military export goes to India. The volume of long-term treaties signed in 2000 made about USD3.7bn. Under them, India will get 140 Russian aircraft and other military equipment.
Specialists believe that the total volume of export on medium- and long-term contracts may make about USD16bn by 2010.
The spokesman said over 250 Soviet/Russian aircraft, including over 100 MIG-23 Floggers, seven MIG-25 Foxbats, 65 MIG-27 Floggers and over 60 MIG-29 Fulcrums were in the inventory of the Indian Armed Forces. Lately India has been purchasing a lot of SU aircraft, including the latest SU-30 Flanker that the Russian Air Force only has a few. The two parties have been discussing leasing of Russian TU-22M3 Blackfire bombers for a long time.
The Defence Ministry is assured that India's USD11bn military budget allows to finance all signed contracts.