Russian arms supplier Rosoboronexport has submitted a commercial proposal to the Defence Ministry for the army’s plan to procure 48 additional Mi-17V-5 helicopters and a formal contract is expected to be signed by this year end.

Rostec State Corporation, parent company of Rosoboronexport, said it expects to close a new contract for 48 units of the helicopters for the Indian armed forces soon.

"A commercial proposal has been presented to the Indian side earlier this February and after the commercial terms are agreed upon, a firm order is expected to be received this year," it said in a statement.

In 2008-2015, Rosoboronexport had already supplied a total of 151 units of the Mi-17V-5, produced by the Kazan Helicopter Plant of ‘Russian Helicopters’, another company of Rostec State Corporation.

"The negotiations within this contact have been launched.

Currently the Indian side is considering our commercial proposal, which we sent earlier this month.

"Over a long time, Russian helicopters have gained a reputation for being very efficient and reliable machines and the intention of the Indian army to purchase a new batch of Mi-17V-5 is proof of that," Sergei Chemezov, CEO of Rostec State Corporation, said.

Since this is not the first contract for these helicopters, Chemezov assumes that the negotiations will not take a long time.

"The technical specifications and parameters have been agreed, the two parties will only have to agree upon the commercial terms. It is not just about price, which is affected by inflation, but also the order and timing of deliveries and payments. I am sure that the contract will be concluded this year, perhaps even in a few months," he said.

Designed to transport cargo inside the cabin and on an external sling, the Mi-17V-5 is one of the world’s most advanced military transport helicopters.

It can be deployed in troop and arms transport, fire support, convoy escort, patrol, and search-and-rescue (SAR) missions.

Mi-17V-5, supplied to India, ranks among the most technically advanced helicopters of the Mi-8/17 type, incorporating the best engineering solutions of previous generations.

India continues to be one of the largest operators of Russian airborne equipment. In the history of aviation cooperation between the two nations, enterprises that are currently united into the Russian Helicopters holding company have delivered to India 110 units of the Mi-4, 128 units of the Mi-8 and about 160 units of the Mi-17.

In 2008, Rosoboronexport signed a contract for the delivery of 80 Mi-17V-5 to India, which was completed in 2011-2013. In 2012-2013, three additional contracts were signed to supply a total of 71 Mi-17V-5 helicopters to meet the needs of the Indian Air Force.