20-Dec-2021: Defence Agreement with Russia on Assault Rifles
A contract for procurement of quantity 6,01,427 Assault Rifles AK-203 was signed on December 06, 2021 between Ministry of Defence and M/s Indo-Russian Rifles Private Limited (IRRPL)- a Joint Venture established between India, represented by the Defence PSUs-Advanced Weapons & Equipment India Limited (AWEIL) & Munitions India Limited (MIL) and Russia, represented by Rosoboronexport (RoE) & Concern Kalashnikov (CK), in the shareholding of 50.5% and 49.5% respectively. These rifles will be produced by M/s IRRPL at Korwa, Uttar Pradesh.