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International relations

India, Russia deepen defense ties with AK rifle production deal

Agreement signed on sidelines of Modi-Putin summit and 2-plus-2 talks

The summit between Russian President Vladimir Putin, left, and Indian Prime Minister Narendra Modi may see the start of Indian production of Russian AK-203 assault rifles. (Nikkei montage/AP/Gettty Images)

NEW DELHI -- India on Monday signed a 51-billion-rupee ($681 million) deal with Russia to jointly produce AK-203 assault rifles in the country, in a sign of deepening defense ties between the two nations.

The pact was inked as Indian Prime Minister Narendra Modi and Russian President Vladimir Putin held their annual summit, which coincided with the inaugural "two-plus-two" meeting of the countries' defense and foreign ministers.

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