Russia, India Finalizing Agreement on Fighter Jet Development Work - Minister

Russian-Indian agreement on separation of research and development work on the Fifth Generation Fighter Aircraft (FGFA) is on its final stage, Russian Minister of Trade and Industry Denis Manturov said Friday, adding that India would have equal rights over aircraft in case it invested money into the project.

On Thursday, Indian media reported that the country was ready to develop the project with Russia only under the condition of complete transfer of technology.

"It's not free transmitted, it is not a gift, money is invested in this project. The first part [of agreement] is already under implementation. We are talking at the moment about completion of the negotiations of the second stage — research and development work, which is set to co-financing," Manturov said, adding that the Indian side would also have equal rights on possessing the technology in case of co-financing.

The FGFA project is part of the "Make in India" initiative launched by Prime Minister Narendra Modi in 2014. In the project, the Russian side is represented by the Sukhoi aircraft manufacturer and the Indian side by the Hindustan Aeronautics.

The agreement will be reportedly designed for six years, with estimated cost of 127 aircraft amounting to $25 billion.