India agrees to 2.8% annual cost escalation to Russians - 40 new SU-30 MKI fighters for Indian Air Force
Anil Surti
Oct. 14, 2007

A major break through occurred between Russian and Indian negotiators before Indian Defense Minister A K Antony visits Moscow on Tuesday. Major differences between India and Russia are resolved. India has agreed to pay 2.8% annual cost escalation to Russians. The Russians wanted 5% annual cost escalation. Russians are citing the escalating cost of energy and metals.

India agreed to the adjustment and sealed a deal of 40 new SU-30 MKI fighters for Indian Air Force by 2010. Hindustan Aeronautics Ltd and Russia's state owned arms agency Rosenbroexport agreed to a 1.75 billion dollar deal.

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India agrees to 2.8% annual cost escalation to Russians - 40 new SU-30 MKI fighters for Indian Air Force
Anil Surti
India agreed to the adjustment and sealed a deal of 40 new SU-30 MKI fighters for Indian Air Force by 2010. Hindustan Aeronautics Ltd and Russia's state owned arms agency Rosenbroexport agreed to a 1.75 billion dollar deal.
READ MORE>>

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