India and Russia are to acquire 250-300 Fifth Generation Fighter Aircraft and 45 multi-role transport aircraft. Protocols for the major 25 billion dollar defence deal were signed in New Delhi on Thursday by Defence Minister A.K. Antony and the visiting Russian Defence Minister A.E. Serdyukov. The deals were signed during the 10th annual meeting of India-Russia Inter Governmental Commission on Military Technical Cooperation. Addressing a joint press conference later Antony said that both the sides also discussed issues of mutual concern threadbare. The Russian Defence Minister said that the two countries have huge volumes of equipment and systems to be developed within a time frame. AIR correspondent Manikant reports that India and Russia have a target to manufacture 205 multi role aircraft to start with to meet the requirements of both Indian and Russian military. The cost and work of the project will be equally shared by the two countries. About 50 percent of Indian air force equipment and systems are becoming obsolete and according to the Air force Chief, the precentage will come down to 30 by 2014 following new acquisitions. Russia's United Aircraft Corporation-Rosoboronexport and India's Hindustan Aeronautics Limited have signed an agreement for the joint manufacture of multi role transport aircraft with an investment of around 2,900 crore rupees.