VLADIVOSTOK, September 4. /TASS/. The launch of a Russian-Indian joint venture, Indo-Russian Rifles Private Limited, for manufacturing AK-203 Kalashnikov assault rifles will bring bilateral cooperation in military and technical area to a new level, Indian Prime Minister Narendra Modi has said.
"As far as a joint venture on producing the AK-203 is concerned, it will enable us to bring our cooperation in the defense area beyond the narrow framework and create a reliable basis for developing our joint production," Modi said after his meeting with Russian President Vladimir Putin on the sidelines of the Eastern Economic Forum in Vladivostok.
Modi also noted that the deal on establishing a joint venture with Russia on producing components for military equipment in India will encourage India’s industrial development. "President Putin and I have raised our relations to a new level of cooperation based on trust and partnership and we have managed to ensure both a quantitative and qualitative leap forward in our achievements," he stressed.
The fifth Eastern Economic Forum is taking place in Russia’s Far Eastern city of Vladivostok on September 4-6. Roscongress Foundation is the organizer of the event. TASS news agency is the event’s general information partner, the official photo hosting agency and moderator of the presentation zone focusing on the Russian Far East’s innovation opportunities.