India Will Build 10 More Nuclear Reactors With Russia’s Help: PM Modi

Modi_putin_joint_statement_650_bigstryNEW DELHI : India will build at least 10 more nuclear reactors with the help of Russia, Prime Minister Narendra Modi said today after talks with President Vladimir Putin in New Delhi. “We have outlined an ambitious vision for nuclear energy of at least 10 more reactors,” PM Modi said at a joint press briefing with Mr Putin.”It will have the highest standards of safety in the world. It will also include manufacture of equipment and components in India,” PM Modi said.
Russia has supplied two reactors to a plant at Kudankulam in Tamil Nadu under a long-delayed agreement, and has been pushing to supply many more after deals were signed in 2010 and 2008.Mr Putin’s visit is his first to India since PM Modi was elected in May, and comes as sanctions-hit Moscow seeks to strengthen energy, defence and strategic ties in Asia.
The Russian president is seeking new markets for Russia’s natural resources as its economy reels under US and EU sanctions over its backing of an uprising in Ukraine and annexation of Crimea.The two countries on Thursday signed 16 agreements including a deal for Russia to manufacture in India one of its most advanced helicopters and a proposal to set up factories to make Russian spare parts for military equipment.Russia has traditionally supplied 70 percent of India’s military hardware.
India, whose domestic industry struggles to manufacture high-tech arms, is in the middle of a defence spending binge.Total bilateral trade stands at just $10 billion a year despite strong Russia-India ties that date back to the 1950s after the death of Stalin.

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