India and Russia have finalised a serious deal for manufacturing AK-47 203 rifles in India during Defence Minister Rajnath Singh’s ongoing visit here, the official Russian media reported on Thursday.
The AK-47 203 is that the latest and most advanced version of the AK-47 rifle, which can replace the Indian Small Arms System (INSAS) 5.56×45 mm assault gun .
The Indian Army features a requirement for around 770,000 AK-47 203 rifles, of which 100,000 are going to be imported and therefore the rest are going to be manufactured in India, Russia’s state-run Sputnik press agency said.
The rifles are going to be manufactured in India as a part of the venture Indo-Russia Rifles Private Limited (IRRPL), established between the Ordnance Factory Board (OFB), the Kalashnikov Concern and Rosoboronexport — the Russian state agency for military exports, it said.
The OFB would own a majority stake of fifty .5 per cent in IRRPL while the Kalashnikov Group would have a 42 per cent share. Russia’s state-owned export agency, Rosoboronexport, would own the remaining 7.5 per cent, the report said.
The 7.62 39 mm Russian weapon are going to be produced at the Korwa Ordnance Factory in Uttar Pradesh, which was inaugurated by Prime Minister Narendra Modi last year, the report said.
The cost of per rifle is predicted to be around USD 1,100, including the value of technology transfer and of fixing the manufacturing unit, consistent with the report.
