NEW DELHI: India has signed a contract with a US firm for 72,400 assault rifles at a cost of around Rs 700 crore, Defence Ministry officials said Tuesday. 

The rifles, being used by US forces as well as several other European countries, are being bought under the fast-track procurement procedure. 

India has signed the contract for Sig Sauer Assault Rifles with the US under fast track procurement (FTP) and as part of the agreement, India will get around 72,400 7.62mm rifles from U .. 

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