Describing India-Russia relations as “deep-rooted”, he said that Russia has stood like a rock behind India in hours of crisis and also at the global fora on various issues.
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Putin said that Russian Federation was ready to allocate a bln public export credit to finance joint projects. Iran now operates a Russian-built nuclear plant in Bushehr.
Prime Minister Narendra Modi meeting Russian President Vladimir Putin at the 16th Annual India-Russia Summit, at the Kremlin in Moscow on December 24, 2015.
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The discussions covered a wide range of issues including terrorism, cooperation in the fields of defence, security and energy and ways to enhance trade and investment besides facilitating easier movement of people. The Prime Minister said, as per World Bank, India has moved 12 positions up in the ease of doing business.
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India wants Moscow to take part in infrastructure projects as the Modi government seeks to overhaul the country’s railway network and build nuclear energy plants to meet the growing electricity needs for its fast-growing economy. Russian Federation has always been with us in hard times.
Addressing the Friends of India event at the Expo Centre here on Thursday, Modi termed his visit to Russian Federation as “very successful and fruitful”.
Trade between India and Russian Federation, just below $10 billion in 2014, fell by more than 14 percent this year.
A source close to Rosoboronexport, Russia’s state-owned arms exporter, had said earlier India would produce 140 of the choppers and Russia the remaining 60.
“The pace of our cooperation in nuclear energy is increasing”. “The agreement today will increase Indian manufacturing contents in these reactors”.
Asserting that India is making attempts to resolve these problems, he said, “results in this direction are now showing up”. “President Putin hosts a private tete-a-tete for PM”. “We have a strategic partnership, a true strategic partnership”, the Prime Minister said. “It is rightly with our most important defence partner”, he added.
Modi, whose speech was preceded by a cultural programme, said a woman born to a Muslim family in Russian Federation, a pop singer, had recited Vedic mantras.
Hailing Putin, Modi said in a changing world, his leadership has kept the bilateral relations on a steady course of progress and growth. “These would boost defence manufacturing in India and India’s defence readiness with next generation equipment”, he said.
“I am pleased to note, and I am happy to do that, that we are consistently and confidently developing the privileged strategic partnership between India and Russian Federation”, he said.
Mr. Modi said the two sides had strong collaboration in the United Nations.
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Both India and Russian Federation recognise that a vibrant and robust economic and commercial engagement is central to their strategic partnership. “PM Narendra Modi & President Putin begin the 16th Annual Summit with a restricted meeting”, External Affairs Ministry Spokesperson Vikas Swarup tweeted along with a picture of the two leaders at the Kremlin.
