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  5. Modi in Moscow: From helicopters to nuclear energy, India-Russia sign 16 agreements

Modi in Moscow: From helicopters to nuclear energy, India-Russia sign 16 agreements

Moscow: Prime Minister Narendra Modi and Russian President Vladimir Putin today led a delegation level meeting at the Kremlin on a packed second day of PM Modi's two-day visit.Strengthening a deep and substantial relationship, PM

India TV News Desk India TV News Desk Updated on: December 24, 2015 23:16 IST
from helicopters to nuclear energy india russia ink 16 deals
from helicopters to nuclear energy india russia ink 16 deals

Moscow: Prime Minister Narendra Modi and Russian President Vladimir Putin today led a delegation level meeting at the Kremlin on a packed second day of PM Modi's two-day visit.

Strengthening a deep and substantial relationship, PM Modi and President Putin also witnessed the signing of multiple agreements between the two countries across sectors. Both sides entered into a slew of agreements including the manufacturing of the Kamov 226 helicopter in India, the first project for a major defence platform under the Make In India programme.

Both countries also signed agreements on cooperation in the field of helicopter engineering and for investment cooperation in the Russian Far East. Memoranda of Understanding were also signed for technical cooperation in the railway and broadcasting sectors.

Both sides have also agreed to cooperate in the geological survey, exploration and production of hydrocarbons onshore and on the continental shelf of the Russian Federation.

“As I look to the future, I see Russia as a significant partner in India's economic transformation and in shaping a balanced, multi-polar world. I have great respect and appreciation for our strategic partnership. It has been a source of strength and success for India,” PM Modi said while issuing a joint press statement with the Russian President.

PM further appreciated the strong Indo-Russian partnership in defence, diplomacy and development. "President Putin and I are moving towards expanding India-Russia economic ties," he said. Modi also exuded confidence of an increase in trade and investment.

“The pace of our cooperation in nuclear energy is increasing. We are making progress on 12 Russian nuclear reactors at two sites,” Modi informed. The PM also expressed condolences for the loss of lives in the terrorist attack on a Russian aircraft earlier this year.

PM Modi also expressed condolences for the loss of lives in the terrorist attack on Russian aircraft and said that the two nations believed that the world must unite against terrorism, without distinction and discrimination between terrorist groups and target countries.

The Russian President called India "a great power in carrying out a balanced and responsible foreign policy".  

Modi arrived in Moscow on Wednesday where he was accorded a red-carpet welcome.

Earlier today, Modi and Putin met a delegation of Indian and Russian CEOs at the Kremlin. “We want to make India a global manufacturing hub,” PM Modi said at the CEO Summit. Both leaders also agreed to institutionalise the CEO's Forum with two meetings annually. While one will be held in India, the second will be hosted by Russia.

Noting that India and Russia had been through both good times and the bad, Modi further stressed upon the importance of building ties between the two countries. “Russia has and will always be a vital and long-term partner, not only in energy and mineral resources, but in cutting-edge technologies too,” Modi said addressing the gathering.

“High tech, innovation, energy, aircraft building, pharma and diamonds are promising areas for India-Russia cooperation,” President Putin said at the CEO forum.

The PM said he saw Russia as a reliable friend that had always supported India at difficult times, adding that his country aimed to continue its strategic partnership with Russia.Putin, on his part said that Russia and India were consistently and confidently developing the strategic partnership.

"I am pleased to note, and I am happy to do that, that we are consistently and confidently developing the privileged strategic partnership between India and Russia," he said.