The Indian Cabinet Committee on Security (CCS) headed by the Prime Minister, Narendra Modi, on Wednesday approved the purchase of S-400 air defense missile systems from Moscow for an estimated $5.5 billion.
The US recent sanctions against China for purchasing Russian anti-aircraft missiles has not deterred India to buy S-400 from Moscow.
The deal is likely to be signed ahead of Russian President Vladimir Putin’s visit to India next week. “The negotiation with Russia on the S-400 have reached almost the final stage, we'll have to see it if it’s signed before the Russian President’s visit. But the negotiations are almost complete,” Indian Defense Minister Nirmala Sitharaman said during a press conference at Indian women's press corps in Delhi earlier this month.
According to The Economic Times, India will pay 15% of the contract amount in advance. The rest of the mount will be transferred depending on delivery terms. The first complex is to be delivered to the place of service in India within 24 months after the conclusion of the contract.
The Indian Defense Acquisition Council (DAC) cleared the deal in July this year despite US opposition to the deal. The deal gained preliminary approval from the DAC in 2016.
The United States stated late last month that they cannot guarantee India a waiver from sanctions if it purchases the S-400 air defence system from Russia.