– India to Buy $3 Bln Worth of Russian Warplanes, Helicopters (Ria Novosti, Dec 24, 2012):
NEW DELHI – Russia is to sell India dozens of combat helicopters and warplanes under two $2.9 billion contracts signed on Monday.
Under one contract, India will buy 71 Mi-17B-5 Hip helicopters worth $1.3 billion, while the other provides for the delivery of assembly kits for 42 Su-30MKI Flanker fighters, worth $1.6 billion.
The two countries also signed a number of cooperation agreements in the defense and technology sector, notably between Russian Helicopters and Elcom Systems Pvt Ltd.
A memorandum of understanding between Russia’s FarmEco and India’s Elder Pharmaceuticals Ltd and a strategic partnership agreement between Russia’s OAO NIS and India’s TATA Consultancy Services were also signed.