Numerous agreements on defense and nuclear energy are likely to be inked as Prime Minister Narendra Modi begins his two-day visit to Russia for the annual summit talks with President Vladimir Putin.
Both Prime Minister Modi and President Putin will deliberate on enhancing cooperation in defence, nuclear energy, hydrocarbons and specifically trade.
Mr Jaishankar said, “Russia has been a very major military and strategic partner of India. There will be a lot of discussions on that.”
Russia being the primary defense supplier of India, Defense Ministry had cleared the purchase of Russian S-400 Triumf air defense missile systems at an estimated cost of Rs. 40,000 crore.
Moreover India and Russia will also engage in joint production of 200 Kamov-226 helicopters.
India and Russia are likely to sign an agreement on Kudankulam units 5 and 6 as Deputy Chief Executive Officer of Rosatom – the Russian counterpart of the India’s Department of Atomic Energy – Nikolai Spasskiy paid a visit to India on December 7-8, during which he held negotiations with Sekhar Basu, Secretary DAE regarding the possible inking of a pact of unit 5 and 6 of the Kudankulam Nuclear Power Plant (KKNPP) during Modi’s stay.
Sukhoi T-50 (PAK FA) fighter jets to India As far as defense cooperation is concerned there are also talks regarding setting up of Russian Original Equipment Manufacturers in India for maintenance and repair of Russian fighter planes like Sukhoi and Mi helicopters.Further ,joint development of Fifth Generation Fighter Aircraft in which India will have to pay $6 billion, for the technological know-how and three prototypes of PAK FA fighters. Morover,Indian Air Force has proposed to acquire 48 additional Mi-17 Helicopters worth $1.1 billion from Russia.
India is likely to accept the offer from Russia of Sukhoi T-50 (PAK FA) fighter jets under the joint fifth-generation fighter aircraft (FGFA) initiative.
Sources said the government is also planning to make optimum use of the available nuclear sites in various states to accommodate more atomic reactors to meet energy-starved country’s growing needs.
Apart from the bilateral agreements, Modi and Putin will also discuss on the looming terrorist threat to regional security as transitions within Taliban and increasing influence of Islamic State in Afghanistan and Pakistan that poses a security threat to both India and Russia .
Modi and Putin will also sign deals to strengthen counter terrorism efforts and the sharing of Intelligence as far as the terrorism network is concerned.
Both the leaders will also strengthen relations in the field of trade and investments. Modi has committed to increase bilateral trade with Russia to $30 billion and investments to $15 billion each by 2025.
The CEOs meet will negotiate on a Free Trade Agreement with Eurasian Economic Union.
On facebook,PM Modi wrote “History is witness to the close ties India and Russia have had over the decades. Russia remains one of India’s most valued friends in the world.
“My mind goes back to 2001. I had just assumed charge as Gujarat CM and had accompanied Atalji to Russia. This was, perhaps, one of the first India-Russia annual Summits, a practice that goes on till date.
“My visit will deepen the cooperation between India and Russia in the economic, energy and security spheres. We also want to increase cooperation in science and technology, mining among other sectors. Trade ties between India and Russia can increase even further, to benefit not only our two nations but also the world.
“The visit will witness extensive deliberations with President Putin. There will be an interaction with Russian businesspersons to invite them to invest in India. I will also attend a ‘Friends of India’ programme. I am certain that this visit will substantially take forward the already strong people to people ties between our nations.”