Nothing But Politics

[Amaunet]

Our defense budget is by far the largest of any single country but there is no way we can be competitive while adhering primarily to our isolationist bubble against this kind of leverage. The reference to ‘attracting financial resources’ could mean Arab money among other potential backers. This is a very smart move on their part. -Am


India, Russia to jointly develop military hardware


Sunday, 01 February , 2004, 19:40

Moscow: Transcending their military-technical cooperation beyond a seller-buyer relationship, India and Russia propose to jointly develop several new kinds of military hardware, including a multi-role transport aircraft, a top Russian defence export firm official said today.


"Currently, discussions are going on about full-scale development of principally new types of military hardware, where both sides, having determined current and future requirements of their services and export potential, undertake equal participation in development production of this hardware as well as attracting financial resources," Victor Komardin, Deputy Secretary General of Moscow-based ROSOBORONEXPORT firm, said in a statement.

The same approach was being followed in connection with the project for developing a multi-role transport aircraft (MTA). Such an aicraft was in demand by both the Indian and Russian air forces, Komardin said, ahead of the forthcoming 'Defexpo India-2004' exhibition from Wednesday.

The MTA has "a definite export potential as well" and the project was also important because the participating partners, including Hindustan Aeronautics Limited (HAL), were well-known companies with a sound financial track record.

The other firms are the Ilyushin Aviation Complex, IRKUT (which produces Sukhoi aircraft) and ROSOBORONEXPORT, a mega defence export firm in Russia which is involved in the 'Admiral Gorshkov', Sukhoi, T-90 tanks and other major deals with India.

http://sify.com/news/othernews/fullstory.php?id=13376918


Reference:
Both Russia and India have been picked to be the beneficiary of Arab funds currently invested with the United States and Europe.

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