India’s Ministry of Defence (MoD) is concluding negotiations with Russia to acquire 48 additional Mi-17-V5 military transport/utility helicopters for USD 1.1 billion for the Indian Air Force (IAF) and the Ministry of Home Affairs (MHA).

India is close to agreeing a deal with Russia to acquire 48 additional Mi-17-V5 military transport/utility helicopters (similar to this one) for USD 1.1 billion for the IAF and MHA

Official Indian sources told Jane’s on 23 July that the deal for the twin-engine helicopters – 38 of which are earmarked for the IAF – is likely to be signed during Russian President Vladimir Putin’s visit to India in early October for the annual bilateral summit between the leaders of the two countries.

The proposed deal also includes an offset obligation that requires all vendors to invest 30% of the overall contractual value of all military purchases over Rs. 20 billion (USD 290 million) into India’s defence, internal security, and aviation sectors.