India's Defense Acquisition Council (DAC) has approved the purchase of 48 Mi-17 V5 helicopters worth INR 7000 crore (US $1.1 billion).
The DAC, chaired by Defense Minister Manohar Parrikar today approved the chopper procurement.
Other procurement cleared today was nine tugs for the Indian Navy worth INR 3000 crore (US$451 million) and 7 batteries of the locally made surface to air Akash missile system.
From 2012-2015, under an existing contract, Russia supplied India with 148 Mi-17V5 helicopters out of a total of 151 due to be delivered by the end of the year.
By the end of 2015 Russian Helicopters will deliver another three military transport Mi-17V5 helicopters to India to complete the contract.