New Delhi: On Tuesday, Prime Minister Narendra Modi stated that Russia and India need to take advantage of the low production cost in India to produce military equipment under joint venture framework at cheaper rates for the third-world nations. "Today, provided that technologies are transferred, the production of military equipment can be cheap in India. And we will be able to supply these weapons to third countries at very low prices. India and Russia need to take advantage of this opportunity," Modi said in an interview to TASS.

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