The signing of the agreement was in the presence of Indian Prime Minister Narendra Modi and Russian President Vladimir Putin.

“The joint venture for local production of the helicopter is a profoundly new and substantial step in the development of cooperation beyween India and Russia. The fleet of Russian-made helicopters in India is over 400 units. But this is the first of such large-scale complex agreements for delivery and production of new helicopters, which is fully in line with the Make in India initiative,” Rostec chief executive officer Sergei Chemezov said.

Under the agreement, the joint Russian-Indian enterprise created by Russian Helicopters, JSC Rosoboronexport and India’s HAL must arrange for the localization of production and supply of 200 light multi role Ka-226T helicopters for nine years.

The first nine helicopters will be produced in Russia and the remaining 140 helicopters are being planned in India, Rostec said.