India Finalises S-400 Missile Deal with Russia

For what might be the biggest defence deal for the two countries yet, India and Russia signed the S-400 deal and announced the same in a joint statement after Indian Prime Minister Narendra Modi and Russian President Vladimir Putin met in New Delhi.

As a part of the India-Russia Summit of 2018, the latest defence deal will seal the agreement for India receiving S-400 long-range, surface-to-air missile starting 2020.

Indian Prime Minister Narendra Modi welcomes Russian President Vladimir Putin prior to their meeting at Hyderabad House in New Delhi, India October 5, 2018. Yuri Kadobnov/Pool via REUTERS

However, a challenge for India still looms over transactional issues. The deal is valued at $5.43 billion for the contract

15% of which has to be paid up in advance by India.

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