LATEST NEWS

India, Russia sign pact for Smerch rockets

New Delhi, Aug 28 (IANS) India and Russia have tied up for a joint venture to manufacture Smerch rockets.

A memorandum of understanding for starting the joint venture was signed between India's Ordnance Factory Board (OFB) and Russia's Rosoboronexport and Splav SPA here Monday, the defence ministry said Tuesday.

The technology for the five versions of Smerch rockets will come from Russia.

"OFB signed a MoU for a joint venture with Rosoboronexport and Splav SPA to manufacture five versions of Smerch Rockets based on the technology received from Russia," a ministry statement said.

Smerch rockets are a hi-tech weapon system with a range of 70-80 km.

"The MoU, duly approved by Defence Minister A.K. Antony, has been signed by three parties in New Delhi," it said.

After indigenising the technology of Smerch rockets, OFB will attain new heights in manufacturing of the advanced rocket system, it added.

Russia is India's largest defence partner with over 70 percent of Indian armed forces equipment coming from that country.

The two nations already have a successful joint venture in the design, development and manufacture of the BrahMos supersonic cruise missiles.

They have also tied up for the joint design and development of the fifth generation fighter aircraft and the medium transport aircraft.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.

DON'T MISS

  • The Rs 80,000 crore milk business is on a tear

    If you thought that all the action in business was concentrated around the e-commerce sector, you could not be more wrong. The unlikely category of milk and dairy products has been seeing some of the most ... …

  • Charged up

    Reliance Jio's battle with other cellular operators over spectrum usage charges is set to escalate. …

  • Cracking the Code

    HackerRank is helping companies recruit coding champions through online tests. …

  • Poor Prediction

    A Niti Aayog presentation says poverty in India could be wiped out by 2032. Is it possible? …

  • Missing in Action

    Villages adopted by Gandhis make little progress. …

  • The VillageEconomy

    Inside: Model villages 68 / How India failed its poor 76 …

  • Hardly Adarsh

    Saansad Adarsh Gram Yojana, PM's pet project, has the potential to kick-start the rural economy, but is going nowhere if we go by the results so far. …

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    70.10+1.30+1.89%
    SPICEJET.BO
    9.93-0.11-1.10%
    SUBEX.BO
    97.25-4.45-4.38%
    ASHOKLEY.BO
    275.45-39.65-12.58%
    VRLLOG.BO
    20.90+2.60+14.21%
    ZEEMEDIA.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    172.80+28.80+20.00%
    AHLEAST.BO
    45.95+7.65+19.97%
    GAL.BO
    102.00+16.95+19.93%
    INDINFRA.BO
    45.75+7.60+19.92%
    SHREYANIND.BO
    34.40+5.70+19.86%
    ELPROINTL.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    275.45-39.65-12.58%
    VRLLOG.BO
    367.40-50.85-12.16%
    TRANSPEK.BO
    122.35-15.65-11.34%
    BHAGCHEM.BO
    408.65-51.35-11.16%
    SUPER.BO
    189.00-21.40-10.17%
    CRAVATEX.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.