Narendra Modi addresses Joint Press Statement with President Vladimir Putin

During his two-day trip to Russia, Modi and Russian President Vladimir Putin also held a business summit, which was attended by business leaders from the two nations.

The two leaders will also oversee the signing of agreements by Russia’s state nuclear corporation Rosatom and railway monopoly Russian Railways, Peskov added without providing further details.

It will be Modi’s second summit with Putin who had travelled to New past year for the 15th India-Russia Summit.

The Indian premier said that Russian Federation has always stood with India and this due to the friendship, not merely about give and take relationship.

In an apparent swipe at his detractors back home, Prime Minister Narendra Modi on Thursday said some people only talk about problems while his government was trying to resolve them.

“Our relations are developing in all areas: this applies to political matters and the coordination of our efforts on the global arena; it also applies to the economy and humanitarian cooperation”, he said.

Russian President Vladimir Putin has pointed to the proximity of positions Moscow and New Delhi take on acute global issues.

Modi said cooperation between the two countries in nuclear energy was increasing.

Addressing the media later, Modi exuded confidence that both trade and investment and economic ties between the two countries will surge.

Dipankar Banerjee, a defence analyst at New Delhi-based think-tank Forum for Strategic Initiatives, said India was “vulnerable to Pakistan and China both in terms of missile attacks and air strikes” and that the defence systems were “very desirable” despite a hefty price tag. We are making progress on our plans for twelve Russian nuclear reactors at two sites. Economic cooperation will be the focus of the talks.

Among other arms contracts expected to be signed is the purchase of 200 light Ka-226T helicopters, which would replace India’s outdated Cheetah and HAL Chetak machines.

Jaishankar said Modi’s talks in Moscow will also include nuclear cooperation.

The fresh round of sanction prevents some of the Russian largest companies from raising capital in the West, restrict technological exports and technical services for oil and gas drilling, and freeze travel and assets Russian elites.

“Russia assists in building several power generating units at the Kudankulam nuclear plant”, he said, recalling that the first unit that was commissioned here in June 2014. The pacts included the joint manufacture of 226 military helicopters and the construction of 12 atomic plants in India. “Russian Federation proudly moves along its own development path and I commend you personal leadership in this process”, Modi was quoted as saying by Kremlin.