Russia offers joint development of submarines with India

New Delhi: Russia has offered India submarines for Navy's Project 75I on the basis of an inter-governmental agreement. It was suggested during the delegation-level meet between Russian President Vladimir Putin and Prime Minister Narendra Modi. Under Project 75(I), India plans to indigenously construct six submarines for the Indian Navy at a cost of over Rs 40,000 crores.

In June, New Delhi had issued the Expression of Interest(s) for shortlisting of potential Indian Strategic Partners (SPs) for construction of conventional Submarines for P-75(I) Project of the Indian Navy.

READ: PM Modi offers Russia $1billion line of credit for development of Far East region

Moscow has proposed Joint design, prototype construction with full intellectual property rights which will be shared equally. It has offered to jointly develop the AIP(Air-independent propulsion) for the submarine but based on the progress that DRDO has already made.

Russia, however, did not offer fifth-generation fighter Su-57 that was showcased at MAKS airshow. A Russian government source said, "We are not offering it to anyone".

India has ordered $14.5 billion worth of weapons from Russia, an announcement was made by Moscow after the 20th India Russia summit on Wednesday.

Chief of the Federal Service for military-technical cooperation, Dmitry Shugayev, was quoted by Russian news agency TASS as saying, "Last year and today saw the emergence of a tremendous portfolio of contracts in contrast to all previous years, $14.5 billion. This is an impressive figure, it’s a real breakthrough."

14 govt MoUs were exchanged on Wednesday out of which four were in the energy sector, five in the economic sector and two in the infrastructure sector and one inter-governmental agreement to produce spare parts for Russian origin military equipment.