SPEED NEWS

India, Russia ink 16 agreements, seal major defence deals on the sidelines of BRICS Summit

Speed News Desk | First published: 15 October 2016, 14:01 IST
Modi-Putin-MEA-Twitter
Photo: MEA | Twitter

Prime Minister Narendra Modi and Russian President Vladimir Putin issued a joint statement after talks on the sidelines of BRICS Summit in Goa on 15 October.

Both countries signed Memorandums of Understanding on railways, gas pipelines along with some other key issues.

India and Russia sealed major defence deals, including the purchase of missile systems, frigates and joint production of helicopters besides deciding to deepen cooperation in a range of crucial sectors even as the two close allies resolved to fight the menace of terrorism unitedly.

PM Modi and President Putin signed a total of 16 MoUs and made three announcements to boost ties in sectors like trade and investment, hydrocarbons, space and smart cities. The two leaders also dedicated the unit two of Kudankulum nuclear power plant and witnessed foundation laying of its Unit 3 and 4.

The defence deals included India buying the 'gamechanger' S-400 Triumf air defence systems from Russia at a cost of over US$ 5 billion. The two countries will also collaborate in making four state of art frigates besides setting up a joint production facility for making Kamov helicopters.

Reading out a statement to the media in the presence of Putin, the Prime Minister appreciated Russia's understanding and support of India's actions to fight cross-border terrorism, an oblique reference to India's surgical strike across the LoC targeting terror launch pads

"Russia's clear stand on the need to combat terrorism mirrors our own. We deeply appreciate Russia's understanding and support of our actions to fight cross-border terrorism, that threatens our entire region," he said.

 
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