Vladimir Putin landed in Goa today to attend the BRICS summit.
India and Russia have signed 16 agreements across multiple sectors following the delegation-level talks co-chaired by Prime Minister Narendra Modi and Russian President Vladimir Putin on the sidelines of a summit of BRICS nations in Goa.
Following the
17th annual bilateral talks between India and Russia, External Affairs spokesperson Vikas Swarup said, "New horizons in the India-Russia partnership. PM Modi and President Putin witness exchange of 16 agreements and three announcements across fields."
In major defence procurement, India has signed a $5 billion (Rs 39,000 crore) agreement with Russia to buy five S-400 Triumph air defence systems, along with deals for construction of 1135 series of frigates and a joint venture to manufacture Kamov helicopters.
Among other major agreements, India and Russia will set up an investment fund of $1 billion and develop smart cities in Andhra Pradesh and Haryana along with transport logistics systems for such cities.
The two countries will also conduct a joint study of a gas pipeline from Russia to India.
In the energy sector, a Russian consortium of companies comprising of energy giant Rosneft Oil, commodities trader Trafigura and private investment group United Capital Partners have agreed to purchase 98 per cent of Essar Oil for $10.9 billion. Rosneft has also signed an agreement with ONGC Videsh for education and training in the oil and gas sector.
India and Russia have also agreed to extend cooperation in railways development and to increase the speed of trains between Nagpur and Secunderabad.
India's ISRO and Russian state space agency have also signed a memorandum of understanding (MoU) on collaboration in space technology.
Other agreements include cooperation on international information security, expansion of bilateral trade and economic cooperation.
A road map for celebrating 70 years of India-Russia diplomatic ties was also announced.