ALSO READHAL in pact with govt for fighter aircraft, eyes Rs 17,900-cr FY18 revenue India, Russia contract soon on 5th generation fighter aircraft: Official 4 firms show interest to supply 57 fighter jets to Navy's aircraft carrier Boeing, Dassault racing for Rs 50,000-cr Navy deal for 57 fighter jets Govt clears policy for strategic partnerships in defence
An Inter-Governmental Agreement (IGA) has been signed in October 2007 between the Governments of India and the Russian Federation for Joint Development and production of Fifth Generation Fighter Aircraft (FGFA).
The project is planned to be executed in two phases (i) Preliminary Design (PD) Phase; and (ii) Detailed Design & Development Phase (called R & D Phase). The PD stage contract was signed in December, 2010. The work commenced in February 2011 and completed in June, 2013.
An amount of Rs.1535.45 Crore has been spent as on 31st March 2017.
Planned expenditure has been recommended in the IGA. Any future expenditure under R&D Contract will be known once the Commercial negotiation Committee (CNC) submits its recommendations to the Government.
This information was given by Minister of state for Defence Dr. Subhash Bhamre in a written reply to Shri Baijayant Jay Panda in Lok Sabha today.NAo/DK/Rajib ?
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)