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Was watching this video about AK in 308 cal you can take a hint from the rep about the south Asian country that is interested. He even said about signing a deal (Skip to 04:40). Could this mean that the deal we would be making with Russia is for AK in 308 cal and not for AK-103?

Exactly ... while most are calling it a major achievement .. i consider it as sad way our armed forces are being played ... we have effectively shut down any local R&D in small arms for next 20+ years with all these procurement. Also as you said 3 different calibres for similar roles would...

Also the cost of a 7.62 X 51 rifle would be higher as it requires different metallurgy and a stronger barrel due to the heavy round.

Still not convinced with the selection of a 7.62x51 mm rifle unless used as a DMR. I think Insas was an excellent concept totally screwed up by OFB's quality control. I still think we can rework the Insas by inviting pvt. players. Similar to what British did to the SA80.