New Delhi: India and Russia on Saturday signed sixteen key bilateral agreements across multiple sectors following delegation-level talks between Indian Prime Minister Narendra Modi and Russian President Vladimir Putin.
We take a brief look at the key agreements signed between two nations at the 17th annual bilateral summit:
- Among the agreements signed were the procurement of the S-400 air defence system and construction of 1,135 series of frigates in India.
- Another agreement was signed for joint production of 200 Kamov helicopters Ka-226 T helicopters for $1 billion.
- A Memorandum Of Understanding (MoU) was signed for setting up an investment fund of $1 billion.
- Agreements were also signed for developing smart cities in Andhra Pradesh and Haryana, and for developing transport logistics systems for such cities.
- Another important agreement was signed for the joint study of a gas pipeline to India from Russia.
- According to a separate agreement, a Russian consortium comprising energy giant Rosneft Oil Company, commodities trader Trafigura and private investment group United Capital Partners 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.
- Both sides agreed to extend cooperation in railways development and to increase the speed of trains between Nagpur and Secunderabad.
- A MoU was signed between India`s ISRO and the Russian state space agency on collaboration in space technology.
- 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.
- A road map for celebrating 70 years of India-Russia diplomatic ties was also announced.
- Another announcement pertained to cooperation between the two countries on international issues.
Earlier today, issuing a joint statement along with Russia President Vladimir Putin, PM Modi referred Russia as 'an old friend' and said, "I am aware of your deep affection for India. Your personal attention has been a source of strength in our relationship.”