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Published On: Sat, Oct 15th, 2016

India, Russia sign 16 agreements for cooperation in several areas including defence

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Indian Prime Minister Narendra Modi, right, shakes hand with Russian President Vladimir Putin prior to their annual bilateral meeting, in Goa, India, Saturday, Oct. 15, 2016. (AP Photo/Manish Swarup)

PANAJI : India and Russia today signed 16 agreements and three announcements in a number of fields including infrastructure, defence, ship building, science and technology and railways.

The agreements include pacts on purchase of four naval frigates, joint production of two hundred Kamov-226T helicopters and procurement of S-400 Air Defence System. The agreements were signed in the presence of Prime Minister Narendra Modi and Russian President Vladimir Putin during the India Russia Annual Bilateral Summit in Goa.

In a joint statement with Mr Putin after the bilateral talks, Prime Minister Modi said, the agreements on manufacturing of Kamov-226T helicopters, construction of frigates, and acquisition and building of other defence platforms are in synergy with India’s technology and security priorities.

He said the agreements will help achieve India’s Make In India objectives. Mr Modi said, both countries have agreed to set up a Science and Technology Commission and work on an annual military industrial conference.

Prime Minister Modi reiterated that Russia will remain India’s major defence and strategic partner, and the enduring partnership between them is an anchor of peace and stability in a changing world order.

He said, the nation deeply appreciates Russia’s understanding and support of India’s actions to fight cross border terrorism that threatens the entire region.He said the success of India Russia Summit highlights strong convergence of views of both countries on pressing international matters.

Mr Modi said, both countries affirmed the need for zero tolerance in dealing with terrorists and their supporters.The Prime Minister said robust civil nuclear cooperation, LNG sourcing, partnership in Oil and Gas, and engagement in renewables can construct an energy bridge between India and Russia.

He said, in the last 4 months alone, in Hydrocarbon sector, Indian companies have invested close to 5.5 billion US dollars in Russia’s Oil and Gas sector.In his address, Russian President Vladimir Putin said both countries are going to increase mutual investment and they have set a target of 50 billion dollars till 2025.

He said, they are committed to bringing back dynamic force in the trade between the two countries.


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