NEW DELHI, Jan 20: India on Sunday night signed a three billion-dollar deal with Russia to lease four long-range nuclear bombers and two nuclear-capable submarines, in a move which campaigners say will dramatically escalate the arms race on the Sub-continent.

On a visit to Moscow, Indian Defence Minister George Fernandes said the agreement will be finalized by the end of March.

“We have agreed that all efforts will be made to complete the three contracts,” Mr Fernandes said. India and Russia will also pump more money into a joint programme to develop a new long-range nuclear-capable cruise missile, the BrahMos, he revealed.

The massive deal will dramatically improve New Delhi’s ability to deliver its nuclear warheads.

India is believed to have more nuclear bombs than Pakistan — between 60 and 150, compared with 20-60. It also has a much larger conventional army. But defence experts believe that Islamabad has better means of getting them to their targets, and this is an edge which New Delhi wants to eliminate.

Last night anti-nuclear campaigners in India said they were dismayed by the nuclear deal with Russia.

“I think it is terrible,” said Praful Bidwai, of the Coalition for Nuclear Disarmament and Peace. “We are just going into a vortex that steps up the nuclear and missile arms race. They are actually moving towards a high level of readiness to use nuclear weapons. You are not talking about deterrence.”

Under the package, India will lease four Tu22 M3 long-range aircraft — capable of dropping nuclear bombs on China — as well as two Akula class submarines, which are nuclear-propelled and can deliver nuclear warheads.—Dawn/The Guardian News Service.