Mumbai, December 24, 2015 . India’s Reliance Defence Limited and Russia’s Leading Developer and Manufacturer of Air Defence Missile Systems “AlmazAntey”, have decided to work jointly on the entire range of AD Missile and Radar Systems that are required for Indian Defence Forces.The two companies signed a contract potentially worth $6 billion.
Both the sides identified the Air Defence Missile Systems including the TOR-1M Missile Program, Radars and Automated Control Systems as areas of partnership under the ‘Make in India’ as well as Offset Policies of the Indian Ministry of Defence.
The two sides also discussed the joint implementation of Modernization, Repair and Deep Overhauls of ‘AlmazAntey’ Systems already in service with the Indian Armed Forces. They also discussed R&D cooperation for developing new products in the defence sector.
The Chairman of ‘Reliance Group’ Anil Ambani said, “Our proposed partnership will constitute an important milestone in the strategic relationship between the two countries”. The Vice Chairman of “AlmazAntey” V F Medovnikov said that “Working with Reliance Defence will help us develop new directions for both Companies to address future requirements of the Indian Armed Forces”.