PM’s Russia Visit Concludes with Moscow Expocenter Address

December 24: Prime Minister Narendra Modi today ended weeks of ambiguity over India’s position on Russia’s increasing involvement in West Asian crises, backing without restraint an embattled Vladimir Putin amid growing concerns in Moscow over New Delhi’s romance with Washington.

Following the talks, officials from both countries signed a slew of agreements on manufacturing helicopters, prospective joint exploration of Russian oil resources, simplifying visas for businessmen and other issues.

That would make it the biggest deal by value since 2001, when India agreed to buy 140 Su-30MK Sukhoi fighter jets, which the Stockholm International Peace Research Institute estimates to be worth as much as $5.4 billion.

India has turned to Russian Federation as USA firm General Electric and Westinghouse, a U.S.-based unit of Japan’s Toshiba, still are only considering an entry into India’s nuclear energy sector because of a law that holds reactor suppliers liable in case of an accident.

Russian daily Kommersant this week said Putin’s one-on-one talks with Modi would likely be the defining moment for the deal as the two seek to resolve price disagreements.

“We are developing parliamentary ties and our Intergovernmental Commission is working actively”, said President Putin.

They could also announce the location of a new Russian nuclear energy plant in the southern Indian state of Andhra Pradesh, an extension of the Russian nuclear plant under construction in Kudankulam where one reactor is already in operation. The two sides welcomed the finalisation of programme for action for localisation between RosAtom of Russian Federation and the Department of Atomic Energy of India.

He invited Russian Federation to become India’s partner in security and prosperity. And, in a changing world, your leadership has kept our relations on a steady course of progress and growth.

Mr Putin hosted Mr Modi for a tete-e-tete at the Kremlin followed by a private dinner during which the two touched upon issues of mutual interests.

Ways to expand economic cooperation between the two countries were also explored in the meeting with both countries aiming to take the current bilateral annual trade of Dollars 10 billion to USD 30 billion in the next 10 years.

Speaking at the 16th annual India-Russia Summit, the PM said that Russia is a “reliable friend” of India and will remain so in future.

In the joint press conference, Modi said he and the Russian president were “moving creatively in expanding our economic relations”.

The Prime Minister said that it is a matter of pride that so many people in Russian Federation express their fondness for India’s cultural heritage.

Last year, Modi spoke of his dream to turn India from the largest arms importer to a weapons exporter.

Putin assured Modi of Moscow’s continuous help to build more nuclear power plants in India.