India and Russia are on the verge of signing Rs 40,000 crore defence deal. Senior Defence official told The Hindu that the two countries could be just weeks away of signing one of the biggest defence deals.
The deal for the purchase of S-400 Triumf, long range air defence systems is expected to get closed by 31st March.
Prime Minister Narendra Modi and Russian President Vladimir Putin signed an intergovernmental agreement for the acquisition of five regiments of S-400s in October 2016 during the eighth BRICS summit.
According to the report published in The Hindu, Russia is not in favour of any offset clause because S-400 Triumf air defence System is very strategic in nature.
Acquiring S-400 will boost India’s air defence system as it can track and shoot down the incoming enemy aircraft upto the range of 400 km. Indian Air Force will operate this system.
China is the first country to procure six battalions of S-400 air defence systems.