 NEW DELHI: After signing its first export agreement worth $375 million with the Philippines this year, an India-Russia joint company that manufactures nuclear-capable supersonic cruise missiles expects to get orders worth $5 billion by 2025, according to its chairman on Tuesday.
The 50.5% Indian, 49.5% Russian joint venture fits perfectly with Prime Minister Narendra Modi’s signature “make-in-India” initiative.Under licence, India has produced Russian MiG fighter fighters and Su-30 jets, and the two have worked together to produce BrahMos missiles in India. Additionally, Russia has typically been India’s top armaments supplier.
Sergei Lavrov, the foreign minister of Russia, stated in April of last year that “further” Russian military equipment production in India was being discussed between the two nations.India has become Moscow’s second-largest oil customer after China, although not openly condemning Russia’s invasion of Ukraine, as Indian refiners buy inexpensive Russian oil that some Western consumers have avoided.
