India, Russia expected to agree deals worth up to $150bln

During the visit, Modi will attend the 16th India-Russia annual summit. The two sides continued their deliberations over lunch at the Kremlin.

Modi said on Twitter that conversation focused on India-Russia ties, calling it “fruitful” and also publishing pictures of the pair exchanging gifts.

“We are one in our belief that the world must unite and take concerted action on combating terrorism, without distinction and discrimination between terrorist groups and target countries”, he said.

“We agree that an early political settlement through dialogue in West Asia is essential for restoring stability and containing extremism in the region”. An MoU on construction of solar plants was also signed.

The joint statement issued by the MEA said a programme of action has been agreed upon by the Department of Atomic Energy of India and Russian State Atomic Energy Corporation “Rosatom” for localisation of manufacturing in India for Russian-designed nuclear reactor units.

Putin said the two countries would also cooperate on designing a next-generation fighter jet and a transport plane.

Modi is seeking to expand the country’s nuclear energy use to meet the rising energy needs of the coal-dependent nation amid global warming risks, with a program for at least 12 new reactors. He was given an overview of the actual functioning and real-time monitoring operations of the Centre. He was informed in detail about the coordination among various disaster-relief agencies, which is done by this Centre.

Prime Minister Narendra Modi, takes part in a wreath laying ceremony at the Tomb of Unknown Soldier outside the Kremlin Wall in Moscow, Russia.

Putin voiced strong support for New Delhi’s aspirations to win a permanent seat at the U.N. Security Council, praising India’s “well-balanced and responsible foreign policy course”.

Both India and Russian Federation recognise that a vibrant and robust economic and commercial engagement is central to their strategic partnership.

The bilateral relations were developing in all directions – in global politics, economy and the humanitarian area, he was quoted as saying by the state-run TASS news agency.

Putin highlighted the countries’ active interparliamentary and intergovernmental commission work, and emphasized the importance of addressing issues that require special attention in light of a complicated economic climate.

Modi, who along with Putin, addressed the top business leaders of the two countries before the press interaction, said private sector is also being encouraged to connect with each other more.

“With President Putin’s support, we are enlarging Indian investments in the Russian hydrocarbon sector”, he said.

There was tremendous enthusiasm even in mid-winter Moscow as stage was set for the unique India Russia collaboration at Friends of India Event.