Big Defence And Energy Deals Signed As PM Modi Meets President Putin

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Big Defence And Energy Deals Signed As PM Modi Meets President Putin
All India | Written by Sandeep Phukan (With inputs from agencies) | Updated: October 15, 2016 15:33 IST

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Russian President Vladimir Putin met PM Modi ahead of BRICS 2016 summit in Goa

BENAULIM, GOA: India and Russia today signed several major agreements, including two key defence deals following a bilateral meeting between Prime Minister Narendra Modi and Russian President Vladimir Putin on the sidelines of the 8th BRICS summit in Goa.

After their nearly two-hour long talks, which began with a warm handshake this morning, the two leaders witnessed the signing of a Rs. 39,000 crore defence deal to procure Moscow's most advanced anti-aircraft defence system - S 400 Triumph, which will provide India a ballistic missile shield.

In another key deal which is being seen as a huge boost for the Modi government's Make in India initiative, India will initially import and then manufacture Russian Kamov Ka-226 T light utility helicopters. India and Russia will also collaborate in making four state of art Admiral Grigorovich-class (Project 11356) guided-missile stealth frigates.

The two countries have also agreed to conduct an annual military conference.

PM Modi said the "highly productive" outcomes of the meeting clearly establish the special and privileged nature of strategic partnership between the two countries.


"They also lay the foundations for deeper defence and economic ties in years ahead. The agreements on manufacturing of Kamov 226T helicopters; constructions of frigates; and acquisition and building of other defence platforms are in synergy with India's technology and security priorities," the PM said.

India is the world's top defence importer and is undergoing a $100-billion upgrade of its mostly Soviet-era military equipment. India was the erstwhile Soviet Union's closest military ally during the Cold War and a major importer of its military hardware. But in recent years Delhi has turned to the United States for supplies, as the two nations forge stronger ties.

Analysts suggest that India's big Russian push once again should also be seen in the context of the recent joint military exercises that Russia had with the Pakistani forces.

The two leaders also laid the foundation of Unit 3 and 4 of the Kudankulam nuclear plant.

Russia and India also plans to closely work in the area of energy and infrastructure. The two nations have signed a deal to pave the way for a group led by Russian oil major Rosneft to acquire a stake India's Essar Oil

http://m.ndtv.com/india-news/ahead-...et-to-sign-major-defence-energy-deals-1474538

 

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Kamov 226T choppers, naval frigates, air defence systems among major deals signed between India, Russia
PM Modi and Vladimir Putin also witnessed the foundation laying ceremony of Units 3 and 4 of Kudankulam nuclear plant via video conference.

By: Express Web Desk | New Delhi | Updated: October 15, 2016 3:27 pm

Along with the agreements, PM Modi and Vladimir Putin also witnessed the foundation laying ceremony of Units 3 and 4 of Kudankulam nuclear plant via video conference. (Source: Vikas Swarup/Twitter)
India announced 16 agreements and 3 announcements across fields with Russia after Prime Minister Narendra Modi’s meeting with Russian President Vladimir Putin on Saturday. A number of pacts on cooperation in energy, power, shipbuilding, space and smart cities were signed after the bilateral talks between the two leaders in Goa. The delegation-level talks were held on the sidelines of the 8th BRICS summit in the state.

PM Modi and President Putin also witnessed the foundation laying ceremony of Units 3 and 4 of Kudankulam nuclear plant via video conference.

The two countries have also agreed to set up a Science and Technology Commission with an eye on the future.

India and Russia signed pacts on purchase of four naval frigates and air defence systems along with a pact for joint production of 200 Kamov 226T helicopters. “The agreements on manufacturing of Karnov 226T helicopters; construction of frigates; and acquisition and building of other defence platforms are in synergy with India’s technology and security priorities” said PM Modi.

India also announced that it will buy the S-400 Triumf air defence systems from Russia, worth over $5 billion. The long-range air defence missile system has the capability to destroy incoming aircraft, missiles and even drones up to the range of 400 kms.

India and Russia have also agreed to work on “annual military industrial conference” that would allow both the countries “to institute and push collaborations.” Modi also said that with President Putin’s “backing” India hopes to fast track its association with Eurasian Economic Union Free Trade Agreement.

“The Green Corridor and the International South Transport Corridor will serve to strengthen trade facilitation, logistical links and ensure better connectivity between the two countries. Our efforts for setting up of the Investment Fund of $1 billion between National Investment and Infrastructure Fund(NIIF) and Russia Direct Investment Fund (RDIF) will help our infrastructure partnership,” the prime minister said.

Covering the dominating issue of terrorism in neighbouring countries, the prime minister also said, “We affirm the need for zero tolerance in dealing with terrorists and their supporters. Russia’s clear stand on the need to combat terrorism mirrors our own.”