As Russian President Dmitry Medvedev began his maiden India visit, the country's Sevmash Shipyard on Thursday launched Gorshkov aircraft carrier after completing the work in dry dock.

Freshly painted in grey, the huge but sleek vessel proudly displaying its new name Vikramaditya in Hindi and English was shown by NTV channel carefully being propelled into the wet dock of the Severodvinsk-based Sevmash Shipyard, where the refit will be continued pending the final price negotiations.

According to the NTV, the launch of Soviet-built aircraft carrier in its new 'avatar' coincided with the Indian Navy Day celebrated on Thursday.

Under the deal signed in 2004 the 44.5 thousand ton Kiev class carrier will now be completed by 2011 for sea going trials and delivered in 2012 with the delay of four years.

However, Moscow [Images] is asking for extra $2 billion to complete the refit due to cost escalation and additional work at the request of the Indian Navy.

The ship is said to be 49 percent ready with almost new hull and ski-jump deck for easier takeoff by MiG-29K multi-role fighters specially developed for the Indian Navy.

According to sources, the extra funds would also be required for rigorous sea trials with the landing and takeoff of fighters.