India's Vectra Group will be the partner in the JV with about 50% ownership.
"The joint company will have a storage facility for spare parts and equipment for repairs to ensure their delivery to any part of the country in less than 48 hours," Dmitry Vypryazhkin, the head of the regional department at Helicopters of Russia, said at the India Aviation 2008 exhibition.
The JV will be located in Chandigarh in northern India and will help to ensure the competitiveness of Russian helicopters on the Indian market.
"The Indian [helicopter] market is very promising and we should be a part of it," the official said, adding that his company could sell up to 40 civil helicopters in India in the next few years, despite serious competition from foreign makes, especially Eurocopter.
India Aviation 2008 is India's first international civil aviation exhibition. The four-day exhibition in Hyderabad was organized by the Civil Aviation Ministry jointly with Federation of Indian Chambers of Commerce and Industry, closes on Saturday.
