<p>"Both sides have agreed to take necessary steps to secure the unconditional execution of the contracts for deliveries to the Indian armed forces. This makes it a first of its kind in the relationship between India and Russia that there would be no price escalation issue during the duration of the contract," BrahMos officials told PTI here.<br /><br />In recent times, several defence contracts with Russia have faced problems after Moscow escalated the price of defence hardware mid-way like the increase in cost of aircraft carrier Admiral Gorshkov from USD 974 million to over USD 2.3 billion.<br /><br />Under the agreement, both sides pledged their readiness to work towards developing hypersonic version of the missile to maintain its leadership in cruise missiles, they said.<br />BrahMos is planning to develop a hypersonic version of the 290 km-range cruise missile, which would travel at speeds above 5 Mach.<br /><br />The protocol has been signed by NPO Mashinostroyenia Director General and Designer General A G Leonov and BrahMos Aerospace chief A Sivathanu Pillai during the two day visit of Russian President Dmitry Medvedev to India.<br /><br />The Russian side committed full support of its specialists to Indian industries for manufacturing elements of missiles which are presently not produced in India, officials said.<br />BrahMos Aerospace is a joint venture between India and Russia. Premier defence research organisation DRDO represents India and NPO Mashinostroyenia represents Russia in it.<br />The missile has already been inducted into the Indian Army and the Navy and the work on its air launched version is on.</p>
<p>"Both sides have agreed to take necessary steps to secure the unconditional execution of the contracts for deliveries to the Indian armed forces. This makes it a first of its kind in the relationship between India and Russia that there would be no price escalation issue during the duration of the contract," BrahMos officials told PTI here.<br /><br />In recent times, several defence contracts with Russia have faced problems after Moscow escalated the price of defence hardware mid-way like the increase in cost of aircraft carrier Admiral Gorshkov from USD 974 million to over USD 2.3 billion.<br /><br />Under the agreement, both sides pledged their readiness to work towards developing hypersonic version of the missile to maintain its leadership in cruise missiles, they said.<br />BrahMos is planning to develop a hypersonic version of the 290 km-range cruise missile, which would travel at speeds above 5 Mach.<br /><br />The protocol has been signed by NPO Mashinostroyenia Director General and Designer General A G Leonov and BrahMos Aerospace chief A Sivathanu Pillai during the two day visit of Russian President Dmitry Medvedev to India.<br /><br />The Russian side committed full support of its specialists to Indian industries for manufacturing elements of missiles which are presently not produced in India, officials said.<br />BrahMos Aerospace is a joint venture between India and Russia. Premier defence research organisation DRDO represents India and NPO Mashinostroyenia represents Russia in it.<br />The missile has already been inducted into the Indian Army and the Navy and the work on its air launched version is on.</p>