Make In India in the Defence sector is set to get a boost with the Indo-Russian Rifles Private Limited joint venture in Amethi set to receive a massive order for a record 6.7 lakh Kalashnikov rifles soon, reports Economic Times.
According to the report, the Indian Army has cleared the technical gates for the procurement of rifles and the commercial bids are set to be submitted by next month. This would mark the first order order for the company since its formal inauguration by Prime Minister (PM) Narendra Modi in March 2019 as the company had to undergo the acquisition process of negotiating technical and commercial terms.
In the first phase of the order, 6.7 lakh rifles will be made for the Indian Army, and the number is then expected to be increased to at least 7.5 lakh rifles with the requirements for other forces also being added to the order.
The Indo-Russian Rifles Limited is a joint venture between India's Ordnance Factory Board, which owns 50.5 per cent shares in the JV, and Russia's Kalashnikov Concern and Rosoboronexport holding 42 and 7.5 per cent of shares respectively.
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