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NEW DELHI, March 30 (Itar-Tass) — Russia-India military-technical cooperation portfolio amounts to $10.8 billion, head of the Russian delegation to the DefExpo 2012 exhibition, Deputy Director of the Federal Military-Technical Cooperation Service Vyacheslav Dzirkaln said on Friday.
“Military-technical contracts totaling $6.5 billion were signed with India in 2010, while contracts signed in 2011 had the value of $1.8 billion. The total contract portfolio is $10.8 billion,” Arms Tass quoted Dzirkaln.
Military-technical cooperation goes beyond the delivery of military commodities; it also includes the activity of joint ventures and licensed works, Rosoboronexport Deputy General Director Viktor Komardin said. The average annual amount of Russian-Indian military-technical cooperation stands at $3 billion. India’s share in the aggregate military-technical cooperation of Russia has been varying from 22-25% to 35-38%, Komardin said.