India and Russia are continuing with discussions on the 5th generation fighter jet, despite media reports that India has withdrawn, Yury Slyusar, President of the Russian United Aircraft Corporation (UAC) said on Sunday.
“We have closed the topic and continue to discuss with India the joint development of the 5th generation aircraft”, Slyusar told the Rossyia 1 broadcaster.
Under the project, both countries will invest $4 billion each for the developmental stage, while total costs of constructing a 127 fighter jet is estimated at $25 billion. The Russians are represented by the Sukhoi aircraft manufacturers and Indians are represented by Hindustan Aeronautics in the project.
The initial FGFA agreement was signed in 2007, while the final agreement which includes the project’s financing conditions is yet to be signed.
Source: Sputnik International