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Russia, India expected to agree deals worth up to $150bn

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Published time: 24 Dec, 2015 10:09Edited time: 24 Dec, 2015 10:18
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Prime Minister of India Narendra Modi is welcomed in Moscow during a ceremony held upon his arrival at the airport © Anton Denisov / Sputnik

Indian Prime Minister Narendra Modi, who is on a two-day visit to Moscow, has announced a large-scale development program for the country’s armed forces, which could be worth $150 billion.
The announcement comes as Moscow and New Delhi plan to sign a number of multi-billion dollar defense and nuclear energy deals. India has already approved the purchase of five S-400 air defense systems from Russia which is part of the biggest arms deal between the two countries in a decade.

Among other arms contracts expected to be signed is the purchase of 200 light Ka-226T helicopters, which would replace India’s outdated Cheetah and HAL Chetak machines. The sides could also agree the lease of a Russian nuclear submarine, along with the purchase of three Russian battleships. There could also be a breakthrough in the protracted negotiations for joint production of Russia's PAK FA (T-50) fifth-generation fighter jets.

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Russian Sukhoi T-50 PAK-FA fifth-generation jet fighter © Maxim Shemetov / Reuters
Energy cooperation, investment and trade will be also on the agenda during the talks. Trade between the countries is planned to increase from $11 billion to $30 billion over the next decade.

Trade between Russia and India does not correspond with the level of trust and cooperation between the countries, according to the First Deputy Minister of Russia’s Economic Development Ministry Alexey Likhachev.

“Russia is ready to turn on the green light for the restart of the relationship,”Likhachev said at the opening of the meeting with representatives of Russian and Indian businesses on Thursday.

The countries will also discuss hydrocarbon exploration and the development on Russia's Arctic shelf, as well as the construction of nuclear power plants in India. Work on the Russian-designed Kudankulam reactor is underway. The first generator is already operating and a second is expected to start in the coming months.

The Russian and Indian leadership will discuss foreign policy issues, particularly cooperation within the SCO (Shanghai Cooperation Organization), the fight against terrorism in the Middle East and the future of Afghanistan.
Russia, India expected to agree deals worth up to $150bn — RT Business


 
So this year alone so far Modi govt has made deal worth more than India's GDP
 
We need to buy nuclear powered ice cutters to explore the arctic...now that Russia has given green signal!!
 
So this year alone so far Modi govt has made deal worth more than India's GDP

150 Billion is probably the figure both nations have pledged to take the bilateral trade by 2025.
Media as usual has no idea.
 
modi has made deals that costs 2.3 trillion $ per year???

source for this.that literally makes no sense .
You are asking source from the people who believe India can trade more then it's nominal GDP.:crazy:
 

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