The Army is likely to sign a Memorandum of Understanding (MoU) in a month for the procurement of over 7.5 lakh AK-203 assault rifles, which are to be manufactured locally by an India-Russia joint venture (JV), a Defence source said.
“About 1 lakh rifles will come directly from Russia and the remaining will be manufactured by the JV in India. The MoU should be signed in a month,” a Defence official said. Read More…
