BRICS 2016: India-Russia sign defence deals worth billions
Panaji: Bilateral talks between India and Russia during the 17th India-Russia Annual Meet, on the sidelines of BRICS 2016, laid foundations of deeper defence and economic ties between the nations. The countries on Saturday signed defence deals worth billions also agreed on setting up a joint venture for the production of helicopters in India. Both the countries signed a number of Memorandum of Understanding (MoUs) and strengthen the ties between the countries.
The leaders also witnessed the foundation laying of new units of Kudankulam Nuclear Power Plant.
Prime Minister Narendra Modi, while addressing a joint press conference with the Russian President Vladimir Putin, recalled India's friendly ties with Russia. "An old friend is better than the two new friend," said PM Modi after the bilateral talks with the Russian President during the 17th India-Russia Annual Meet.
The Prime Minister, while addressing the joint press conference, said that the close friendship between both the nations has been the source of their strength, peace and factor stability. "We are celebrating and building on our past achievements," he stated.
The Indian PM said, "Our close collaboration at United Nations, BRICS, East Asia Summit, G20 and SCO makes our partnership truly global, both in its scope and coverage."
Memorandums signed between the countries:
- Shareholders agreement of 226 Kamov helicopters has also been signed. India would be buying S-400 air defence system from Russia.
- The countries sign MoUs to develop transport logistics system.
- A space cooperation agreement has been signed between Russian space Corporation and ISRO.
- Deals between Indian and Russian railways.
- United ship-building corporation and Andhra Pradesh economical Development board.
- MoU on urban development, and smart city projects.
- Cooperation agreement on education and training.
What Russian President said:
"Companies of both countries are improving industrial cooperation. The military and technical cooperation also improving," said Putin while appreciating India for its development in defence structure and assured India of the support to counter terrorism in the country.
Tweet on the official twitter account of BRICS 2016: