Russia and India are to cooperate on the development of fighter jets, the Russian defence ministry announced Saturday in advance of Defence Minister Sergei Ivanov's visit to India Monday, DPA reported . An agreement over the joint development of so-called "fifth- generation" fighter jets should be signed within months, said spokesman Colonel-General Anatoli Masurkevitch. A joint Russian-Indian military exercise is also scheduled to take place in the north-western Russian city of Pskov, close to the Estonian border, Masurkevitch said. Ivanov during his two-day trip to India is set to visit the city of Bangalore as well as attend political talks in New Delhi, ministry spokesman Sergei Rybakov said. Russian President Vladimir Putin is also scheduled to travel to the subcontinent for Independence Day celebrations on January 26. India and China are the two biggest customers for Russian arms exports. The Indian air force utilizes Russian-designed Su-30MK multi-role fighter bombers, manufactured under licence. In 2003 and 2005 Moscow and New Delhi collaborated on large-scale naval manoeuvres in the Indian Ocean.