Union Defence Minister A.K. Antony informed Parliament that the government has approved the price of $2330 million as the revised cost for procurement of aircraft carrier Gorshkov/INS Vikramaditya. The revised cost is much higher than the original cost of $974 million agreed upon in January 2004. As per the original contract Gorshkov was to be delivered to India in August 2004. The revised schedule is now December 2012.1

• 1. Government of India, Press Information Bureau, ‘Aircraft carrier Admiral Gorshkov’, Ministry of Defence Press Release, March 15, 2010 at http://www.pib.nic.in/release/release.asp?relid=59626&kwd=