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India, Russia expanding economic relations: PM Modi Dec 25, 12:36 am
Russia’s President Vladimir Putin (R) and India’s Prime Minister Narendra Modi enter a hall during a meeting with business representatives at the Kremlin in Moscow, Russia, December 24, 2015.
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However India eyes Moscow as a potential partner for infrastructure projects as the Modi government seeks to overhaul the country’s railway network and build nuclear energy plants as part of the Make in India foreign investment drive.
Russian Federation launched the first nuclear unit at India’s Kudankulam power station in June previous year and would complete building another one in “a matter of a few weeks”, Putin said.
“All of us in the region – India, Pakistan, Iran and others – must unite, in trust and cooperation, behind this common goal and in recognition of our common destiny”.
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.
“In the framework of the agreement between Rosneft and Esser group, large-scale supplies of oil and petroleum products – 10 million tons of oil annually in the next 10 years – are planned to be delivered to Indian refineries”, said Putin Thursday during a joint statement with Modi.
“India and Russian Federation has old cultural relations between our states”.
Modi is seeking to expand the country’s nuclear energy use to meet the rising energy needs of the coal-dependent nation amid global warming risks, with a programme for at least 12 new reactors.
Among the other agreements signed were those related to railways, solar energy, heavy engineering and hydrocarbons.
Historic allies Russian Federation and India have maintained strong military, economic and diplomatic ties since the end of the Cold War. Chaudhry further said both prime ministers also agreed to enhance people-to-people contacts and developing such an environment for the goal.
Asserting that India is making attempts to resolve these problems, he said, “results in this direction are now showing up”. Speaking at the start of the talks in the Kremlin, Modi hailed Russian Federation as “a reliable friend” who “always stood by us”.
He said all agencies describe India as the fastest growing economy in the world with most promise. “No right thinking persons shall have any reservation on it. However, the two countries have to address the Kashmir issue as per wishes and aspirations of the people if these endeavours are to succeed”, Geelani told PTI.
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The last Indian prime minister to visit Pakistan was Atal Bihari Vajpayee, when he attended a South Asian summit in 2004 and held talks with then-President Pervez Musharraf.