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India-Russia sign several key agreements in the field of defence, energy and infrastructure.

India-Russia sign several key agreements in the field of defence, energy and infrastructure.
Russian President Vladimir Putin shares PM Narendra Modi’s concerns on terrorism.
 
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BRICS 2016 Goa | October 15, 2016: 
Prime Minister Narendra Modi today held bilateral talks with Russian President Vladimir Putin in Goa as part of 17th India- Russia Annual Bilateral Summit.  Both leaders reviewed the entire gamut of India Russia with a focus on defence and nuclear cooperation. Terrorism and improving connectivity between the two countries also figured in the talks.
 
Prime Minister Modi in his press statement termed Russia as an old friend saying “an old friend is better than two new friends.” He said since the last two annual Summits, the journey of India Russia partnership has seen renewed focus and drive. This was the 17th Bilateral Annual Summit.
 
Acknowledging Russia’s crucial contributions to India’s industrial development and technological advancement and defence,  Mr. Narendra  Modi reiterated that Russia will remain India’s major defence and strategic partner.
 
President Putin reaffirmed Russia’s continued commitment to the special and privileged strategic partnership with India and noted the commonality of positions of both the countries on such issues as war on terrorism. Indian side expressed its appreciation for Russia’s unequivocal condemnation of the terrorist attack on army base in Uri.

In his statement, Mr. Putin also highlighted Russia’s “stable” approach to ties with India and said his government will ensure steady energy cooperation with India to support the expanding Indian economy.

India and Russia signed  key agreements in several fields including infrastructure, defence, ship building, science & technology and railways.
 
Gist of the agreements is as follows
 
Defence
 
One of the important agreements signed was for procurement of the S-400 Triumf air defence system which has the capability to destroy incoming hostile aircraft, missiles or drones at ranges up to 400 km.
 
India and Russia also agreed to  purchase or construct in India four additional Admiral Grigorovich class guided missile stealth frigates .
 
Another agreement was signed between RosoboronExport and Hindustan Aeronautics Ltd  to set up a joint venture to manufacture 200 Kamov 226T helicopters.
 
Hydrocarbons
 
An important agreement was signed between  Gazprom and Engineers India Ltd for the joint study of a gas pipeline to India from Russia.
 
According to a separate agreement, a Russian consortium led by energy giant Rosneft Oil Company agreed to purchase 98 percent of Essar Oil for $10.9 billion.
 
Rosneft also signed an agreement with ONGC Videsh for education and training in the oil and gas sector.
 
Space
 
An MoU was signed between  ISRO and the Russian state space agency RosCosmos on collaboration in space technology.
 
Others
 
Agreements were also signed for developing smart cities in Andhra Pradesh and Haryana, and for developing transport logistics systems for such cities.
 
Both sides agreed to extend cooperation in railways development and to increase the speed of trains between Nagpur and Secunderabad in a bid to boost north-south connectivity.
 
An MoU was signed between National Infrastructure Investment Fund (NIIF) and  Russian Direct Investment Fund (RDIF) for setting up an investment fund of $1 billion.  This fund will facilitate high-technology investments in Russia and India.
 
An agreement was signed on cooperation on international information security.
 
Another MoU was signed for expansion of bilateral trade and economic cooperation between India and Russia.
 
During the bilateral talks both sides welcomed initiatives to promote direct trade in diamonds between India and Russia and gave positive evaluation of the work of the Special Notified Zone (SNZ) at the Bharat Diamond Bourse in Mumbai.
 
Both sides also welcomed plans to hold Indo-Russian military industrial conference later this year and create bilateral Science & Technology Committee. The Indo-Russian Military industrial Conference will address military equipment related issues including spares, repair and maintenance of Russian supplied equipment and co-production.
 
During the course of the Annual Summit the two leaders also witnessed the laying of Foundation Concrete for Units 3 & 4 of Kudankulam Nuclear Power Plant in Tamilnadu.
 
President Putin and Prime Minister Modi called for grand celebrations in 2017 to mark the 70th anniversary of the establishment of diplomatic relations between India and Russia. They asked the concerned ministries and agencies to organize celebrations depicting width and depth of multi-faceted relations that the countries have spanning diverse fields including political, defence, energy, trade, economy, finance, investment, culture, education, think-tanks, science and technology, sports, youth, tourism, people-to-people etc.