If the agreement is concluded, Russia would be the fourth country with which India will have such agreement with. India has already signed militarily logistics sharing agreements with the US, France, Oman, and Singapore. Australia too has sent a draft agreement.

India and Russia are in the process of concluding a military logistics sharing agreement, Indian Navy Chief Admiral Sunil Lanba said on Monday during the annual press meet in New Delhi.

"Draft agreement is being worked on to share military logistics with Russia. The draft will move forward soon," Admiral Sunil Lanba said on Monday.

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Around 70% of equipment and platforms like warships, submarines, fighter jets and tanks being used by Indian armed forces are of Russian origin, hence, it is expected that a logistics sharing agreement will provide immense help in servicing of equipment at various locations in Russia.

The agreement will also do away with concerns among some of India's closest allies about defense relations with the US.

An official of India's Defense Ministry who did not wish to be named told Sputnik that the agreement will enhance manifold the operational flexibility of the Indian and Russian defense forces.

India and the United States had signed a Logistics Exchange Memorandum of Agreement (LEMOA) in August 2016. LEMOA is a facilitating agreement that establishes basic terms, conditions, and procedures for the reciprocal provision of logistic support, supplies, and services between the armed forces of India and the United States. It does not provide for the establishment of any bases or base arrangements.

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Meanwhile, India has also started negotiations with Japan on an agreement along similar lines. In October during the Indo-Japan annual summit, India and Japan had initiated negotiations on the Acquisition and Cross-Servicing Agreement (ACSA) to enhance the strategic depth of bilateral security and defense cooperation. The ACSA is a mutual logistics support agreement which intended to allow the navies of the two countries to get access to each other's military bases.