Top Indian arms makers held rare meetings in Russia on potential joint ventures, sources say

Indian Defence Executives Hold Rare Meetings in Russia Amid Push for Joint Production. At least half a dozen executives from leading Indian arms makers, including Adani Defence and Bharat Forge, attended rare meetings in Russia this year to discuss potential joint ventures, according to sources familiar with the matter.

The meetings marked the first visit by India’s defence business leaders to Russia since Moscow’s 2022 invasion of Ukraine. The delegation’s visit, which had not been previously reported, comes as the Indian government seeks to reshape its long-standing defence ties with Russia, focusing on joint development of weapons.

Any potential collaboration with Russia could complicate Indian firms’ plans to jointly develop Western arms, a key part of Prime Minister Narendra Modi’s strategy to position India as a global defence manufacturing hub. Western diplomats have noted that India’s extensive defence relationship with Russia—including Russian-origin arms making up roughly 36% of India’s military equipment—has been a barrier to transferring sensitive Western military technology.

The talks took place on the sidelines of a visit by an Indian defence-industrial delegation to Moscow on October 29-30, led by India’s Defence Production Secretary Sanjeev Kumar. The delegation aimed to lay the groundwork for Russian President Vladimir Putin’s visit to India on December 4-5.

Spokespersons for Adani Group and Bharat Forge denied that executives from their companies attended the meetings. India’s defence ministry and other firms mentioned by sources did not respond to requests for comment.

Exploring Joint Production in India

According to sources, the meetings covered the potential manufacture of spares for Mikoyan MiG-29 fighter jets and other Russian-origin air defence and weapon systems. Russia also proposed setting up production units in India to develop equipment that could potentially be exported back to Moscow.

“Russia has been India’s top arms supplier for decades,” one source said. During Putin’s visit, the two countries agreed to shift their partnership toward “joint research and development, co-development, and co-production of advanced defence technology and systems” to support India’s self-reliance in defence.

Indian Executives Attend Moscow Meetings

The delegation included representatives from Indian conglomerates, state-owned firms, and startups involved in drone and AI development for military applications.

Executives from Kalyani Group’s Bharat Forge attended to explore sourcing or jointly developing components for Russian-origin tanks and aircraft, as well as potential future collaboration on helicopters. Adani Defence and Aerospace, part of billionaire Gautam Adani’s Adani Group, was represented by CEO Ashish Rajvanshi.

Also present was an executive from the Society of Indian Defence Manufacturers, which represents more than 500 arms and military equipment makers, including Tata Sons, Larsen & Toubro, and state-owned firms like Bharat Electronics.

Sanctions Risk Remains a Concern

Indian firms remain cautious about new deals with Russia due to the risk of secondary sanctions. Reuters reported in 2024 that a Bharat Forge subsidiary exported artillery shells to Europe, some of which were later diverted to Ukraine, prompting a diplomatic protest from Moscow.

While diplomatic outreach and lobbying may provide some protection, Indian defence officials say companies must carefully weigh the political risks involved. -Shivam Patel/Reuters