Russia and India are likely to sign agreement for jointly manufacturing the Fifth Generation Fighter Aircraft (FGFA).
“We are ready to sign it as the agreement has been completed on our end. However, it is now down to the Indian side”, Sergei Chemezov, CEO of Rostec State Corporation said. "There are some formalities to figure out, but I think it will be signed by the end of this year," Chemezov said.
Following a break of almost a year, India and Russia had in February revived talks on the delayed FGFA project, after getting a clearance from Defence Minister Manohar Parrikar. From then onwards issues related to work share, IPR and technology transfer among others have been solved between both the countries along with the monetary commitments, Business Standard reported Sunday.
Under the new offer, India will have to pay about $3.7 billion, instead of $6 billion, for the technological know-how and three prototypes of the fighters, a defense official said.
The FGFA version that will be manufactured in India will be based on the same Russian model of FGFA, Chemezov said.
Last month many flight tests of the aircraft have been taken place and the Russian Air Force expects the first one to be inducted into its ranks in 2017. Russia will share critical new generation aircraft technologies as part of a deal that would include production of over 100 fighters in India.
"As a fifth generation (fighter), it means fifth generation speed, ballistics and military equipment, avionics and stealth capabilities among other qualities," he said. "It shall be on par with the capabilities of Russia's PAK-FA T-50 aircraft, a fifth-generation fighter, but as it will be designed in the next few years, it is likely to exceed it in some specifics," Chemezov expained.