Technoglitch
Core Member
Earlier this week, Indian defence ministry sources said the government had cleared the purchase of five S-400 air defence systems that are estimated to cost about $4.5 billion in a bid to modernise the country's defences against airborne attacks.
"The two sides identified the air defence missile systems.... radars and automated control systems as areas of partnership.... as well as offset policies of the Indian Ministry of Defence," Reliance said in a statement.
Under the offsets policy, global defence contractors are required to invest a percentage of the value of any deal in India to help it build a defence industrial base and reduce imports for a military that has emerged as the world's biggest buyer of arms in recent years.
India is forecast to spend $250 billion over the next decade to upgrade its military and Modi's government wants a greater role for Indian state and defence firms.
Reliance is forging close ties with Russia to jumpstart its ambitions to develop a defence business from scratch. It said it had also discussed joint implementation of modernisation, repair and overhaul of Almaz-Antey systems already in service in India.
Reliance Defence signs $6 billion pact with Russian arms firm as Modi visits Moscow - Firstpost
"The two sides identified the air defence missile systems.... radars and automated control systems as areas of partnership.... as well as offset policies of the Indian Ministry of Defence," Reliance said in a statement.
Under the offsets policy, global defence contractors are required to invest a percentage of the value of any deal in India to help it build a defence industrial base and reduce imports for a military that has emerged as the world's biggest buyer of arms in recent years.
India is forecast to spend $250 billion over the next decade to upgrade its military and Modi's government wants a greater role for Indian state and defence firms.
Reliance is forging close ties with Russia to jumpstart its ambitions to develop a defence business from scratch. It said it had also discussed joint implementation of modernisation, repair and overhaul of Almaz-Antey systems already in service in India.
Reliance Defence signs $6 billion pact with Russian arms firm as Modi visits Moscow - Firstpost
