During this visit, a raft of agreements spanning a broad spectrum of sectors are expected to be signed following summit-level talks between the countries yesterday, with trade being a major focus.
“Both sides welcomed progress in identifying the second site in India for additional six nuclear reactor units to be set up in cooperation with Russian Federation”, said the joint statement titled “Shared Trust, New Horizons”.
“India has made a decision to put its eggs in many baskets, rather than just the single Russian basket”, said Sushant Singh, an associate editor at the Indian Express newspaper who specializes in defense matters.
Indian and Russian officials vowed to ease visa regulations, to cooperate on a joint venture to build military helicopters in India, and to develop nuclear reactors in India. It supports my mission of Make in India. We also want to increase cooperation in science and technology, mining among other sectors. “These would boost defence manufacturing in India and India’s defence readiness with next generation equipment”, Modi said.
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.
India and Russian Federation have enjoyed a strong political relationship in the last couple of years, with New Delhi buying billions of dollars worth of weapons from Moscow.
“I am here to invite our partner in security to become our partner in prosperity also”, Modi said.
As world’s confidence is turning towards India’s side and with a fast development rate, Modi said that it is due to the youth 800 million youths in the country who are empowering India to develop.
Mr. Putin hosted Mr. Modi for a tete-e-tete at the Kremlin yesterday evening, when he presented to him a page from the diary of Mahatma Gandhi.
Both countries are aiming to take the current bilateral annual trade of $10 billion to $30 billion in the next 10 years.
Ahead of the trip to Moscow, Modi said he aimed to “deepen the cooperation between India and Russian Federation in the economic, energy and security spheres” and called Russian Federation “one of India’s most valued friends in the world”. “I thank him for the gifts”, the Prime Minister tweeted. “We have a strategic partnership, a true strategic partnership”, Modi said. India’s ONGC is in talks to increase its stake in the Vankor oilfield in Siberia owned by Russia’s top oil producer Rosneft, in line with one of the documents signed in the presence of Putin and Modi. PM Narendra Modi and President Vladimir Putin also discussed the issue of global terrorism threadbare and expand their partnership to counter the menace.
He said India’s GDP has clocked an impressive 7.4 per cent growth and the World Bank and International Monetary Fund (IMF) and other international agencies have projected this growth momentum to continue.