Prime Minister Narendra Modi called out to India’s ‘old friend’ Russia in a joint address at the sidelines of the BRICS Summit before holding wide-ranging talks with Russian President Vladimir Putin, which covered the entire expanse of bilateral engagement. The engagement witnessed 16 agreements being signed between the two countries.
Both countries signed Memorandums of Understanding on railways, gas pipelines along with some other key issues. The leaders also witnessed the foundation laying ceremony of Units 3 and 4 of Kudankulam nuclear plant via video conference.
The defence deals include two Inter-Governmental Agreements (IGA) for five S-400 Triumf air defence systems, four stealth frigates and a joint venture to manufacture Kamov-226T helicopters in India.
The S-400 Triumf has the capability to destroy incoming hostile aircraft, missiles and even drones at ranges of up to 400 km.
The Memorandum of Understanding (MoU) for the Kamov-226T helicopters was signed for a Joint Venture to be set up by Hindustan Aeronautics Limited (HAL) and Rostec State Corporation of Russia to manufacture the utility helicopters in India in a deal worth over USD one billion.
“Businesses and industry between our two countries are connected more deeply today. Trade and investment ties are on the upswing,” said PM Narendra Modi.
“With President Putin’s backing, we hope to fast track India’s association with Eurasian Economic Union Free Trade Agreement,” Modi added.
