Russian President Vladimir Putin (R) and Prime Minister Narendra Modi attend a signing ceremony following their meeting at the Kremlin in Moscow on December 24, 2015. (AFP Photo)
India has signed an agreement with Russia to build Kamov 226 Light Utility helicopters - the first project for a major defence platform under the government's 'Make in India' mission. But it was the only one of an expected clutch of defence projects that was successfully concluded during Prime Minister Narendra Modi's two-day visit to Moscow.
"We have made progress on a number of other defence proposals. These would boost defence manufacturing in India and India's defence readiness with next generation equipment," PM Modi said at a joint media statement he made with Russia's President Vladimir Putin on Thursday.
The projects in the pipeline included the acquisition of a second Akula II class nuclear attack submarine. Despite extended discussions between the two sides for more than a year, the deal for the Indian Navy has not been concluded.
That deal, sources indicate, may have been linked by the Russian side to an agreement for India to acquire three more modified Krivak class frigates, six of which are already in service with the Indian Navy.
The widely expected announcement of five S-400 surface-to-air missile systems, designed to provide parts of India with a shield to defend against incoming ballistic missiles from China or Pakistan, was also not made.
The sale of these five systems, which have also been deployed by Russia recently in Syria, was expected to cost close to five billion dollars.
Though President Putin did speak about India and Russia working together on a jet fighter programme, the Sukhoi stealth fighter programme he was referring to remains a huge question mark.
There is no clarity as yet on how much more New Delhi will have to invest in what was meant to be a joint development programme or when Russia will transfer prototypes of the aircraft to India.