Russia may supply Mi-17V-5 rotorcraft to India in 2018 if a contract for 48 helicopters is clinched in 2017, head of the Russian Helicopters holding (part of the Rostech corporation), Andrey Boginsky, told reporters on Monday.

"Negotiations with our counterparts from Rosoboronexport are being held now, and we hope to ink a contract before the end of this year and supply the first helicopters in 2018," Boginsky said.

A delivery contract for 48 Mi-17V-5 helicopters to India has been under discussion for many years. In February, deputy head of Russian Helicopters, Igor Chechikov, stated that the holding expected to sign the contract before the end of this year, specifying that it concerned "formal coordination only."

The Mi-8MTV-5 and Mi-17V-5 helicopters are used to transport both passengers and cargo and may also be used in rescue operations and for carrying weapons.