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Defence Minister Rajnath Singh met his Russian counterpart General Sergey Shoigu in Moscow on Thursday. The Defence Minister along with other senior officials are on a three-day visit to Russia.

Both sides welcomed the advance stage of discussions for setting up of an Indo-Russian Joint Venture for manufacturing AK-47 203 rifles in India.

The joint venture will be reportedly established with majority stakes of the Ordnance Factory Board and the production of the rifles is to take place at the Korwa Ordnance factory in Uttar Pradesh.

The AK-47 203 is the latest and most advanced version of the AK-47 rifle.

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