Reliance Defence signed a manufacturing and maintenance deal worth around $6 billion with Russian company Almaz-Antey on Thursday. Reuters cited sources saying that the Indian military was set to buy air defence systems manufactured by the Russian firm. This tie-up between Anil Ambani’s company and the Russian firm was announced during Prime Minister Narendra Modi’s two-day visit to Moscow.
As part of the government’s attempts to modernise its air force, it approved the purchase of five S-400 air defence systems at an estimated cost of $4.5 billion, the Indian defence ministry had announced earlier this week. The Modi-led government wishes to promote Indian state and defence firms. To do so, an estimated $250 billion will be spent in the next decade.
Earlier this month, Reliance Infrastructure took over the management of Pipavav Defence and Offshore Engineering Co., which builds patrol vessels for the Indian Navy.