What are the features of AK-203 rifles to be jointly made by India, Russia?

India and Russia have signed a pact to jointly manufacture over six lakh AK-203 assault rifles in UP's Amethi. It has an effective range of 300 metres or more than three football fields and is also lightweight and robust. It fires the 7.62 mm rounds that have better penetrating power and can use hi-tech add-ons like special sights and grips.