MOSCOW: Talks between India and Russia for a defence credit line, modernization of the MIG21 fighter aircraft and supply of military spares and ancillaries have concluded successfully at the end of Indian Defence Minister Sharad Pawar’s official consultations here.
He said, prior to his visit, he had been worried about the effect of political instability and changed geo political perceptions in Russia on ties with India. But, he said, he found that the “overall picture had not changed” and expressed satisfaction that Russian policy towards India had not changed.
Pawar dispelled fears of snags in a reported $830 million credit package under negotiation, Without disclosing details, he said, “we have taken a decision that we will buy, Money and credit are no problem.
Senior Indian sources said the visit had resulted in signing of agreements on the monetization of the MIG-21 fighter aircraft and new purchases,
The sources said, India had, in the past, bought up to one-third of all Soviet arms exports and Russia was keen to ensure the stability of those levels, without which its Massive military industrial potential would face a collapse.
During his visit, Pawar visited a MIG production factory where the assembly lines were busy manufacturing hospital equipment. The sources said the factory man were looking for fresh orders since plans for conversion were unlikely to Sustain the giant enterprises, which assumed prominence in the wake of the emergence of the newly independent Soviet Central Asian republics.
Article extracted from this publication >> September 25, 1992
