India Concluded S-400 air defense missile systems deal for USD 6 Bn with Russia
Finallye deal has been cut. According to the Pravda, Russia plans to ship several regimental sets of S-400 air defense missile systems to India. The deal is evaluated at about $6 billion, sources at the Russian Ministry of Defense told RBC. "It goes about five regiments, which is ten divisions," the source said. Most likely, Russia and India will announce the deal prior to the summit of the leaders of the two countries in October of this year. In October 2015, it was reported that India's Defence Acquisition Council would acquire 12 units of S-400 for its defence needs. However, on 17 December 2015, it was confirmed that the final order would be for 5 units rather than 12 units, as it is considered to be adequate for India's defensive needs. The deal is worth US$5.5 billion. On 15 October 2016, on the sidelines of BRICS Summit, India and Russia signed an Inter-governmental Agreement (IGA) for the supply of five S-400 anti-aircraft missile systems and the f...