Article Posted on : - Dec 07, 2009

Prime Minister Manmohan Singh has voiced confidence of finding a “practical solution” to resolve the problem dogging the deal.

MOSCOW (PTI): India and Russia have reached a broad agreement to break the logjam over the protracted price renegotiation on the Admiral Gorshkov aircraft carrier deal, official sources have said.

Sources said the general agreement being worked out is to the mutual satisfaction of the two countries, who have been unable to attain a finality on the deal after India decided to buy the aircraft carrier re-christened as INS Vikramaditya.

Sources indicated that the deal may no longer be a festering sour in bilateral relations.

They, however, said any pact in this regard is unlikely to be signed after Prime Minister Manmohan Singh's summit talks with Russian President Dmitry Medvedev Monday during his official Russia visit.

Ahead of the visit, the Prime Minister voiced confidence of finding a “practical solution” to resolve the problem dogging the deal.

Navy chief Admiral Nirmal Verma said earlier this week that the protracted price renegotiation for Admiral Gorshkov aircraft carrier is in final stages but refused to set a deadline for clinching the deal.

“We are in the final stages. Fourth round of talks on fresh price is going on at present to fix the tasks needed on Gorshkov and the costs,” Verma had said when asked if negotiations would be over before the Prime Minister's visit.