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Modi’s Moscow Musing: Energy tops India-Russia agenda
Prime Minister Narendra Modi faced embarrassment on Wednesday night when he, started walking when the National Anthem was being played by a Russian Military band.
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The state-owned Indian Oil Corp and Oil India, whose chairmen are to accompany Modi in Moscow, are reportedly in talks with Russia’s Rosneft to buy a stake in a Siberian oil project.
“President Putin gifted me a page from Gandhiji’s diary containing Bapu’s handwritten notes”, Mr. Modi, who is here on a two-day visit, tweeted.
“History is witness to the close ties India and Russian Federation have had over the decades”. I will also attend a “Friends of India” programme.
“We had discussions with Russian Federation on the Eurasian economic zone and the FTA (free trade agreement) with them”.
Prime Minister Narendra Modi today visited Russia’s premier crisis management centre which deals with emergency situations and ensures coordination among various relevant agencies. Not so long ago, for example, a package of contracts on equipment supply worth RUB 122 billion was signed with Power Machines, including supply for Kudankulam NPP in India and Bushehr NPP in Iran.
Nuclear energy is another area where big deals are expected. We are talking here about the work on deepening of the privileged strategic partnership between the two countries in the most sensitive fields in particular, the nuclear sector and the military-technical sphere,”the Russian Ambassador to India, Alexander Kadakin, told Kommersant”. The mutual investment between the two countries stands at US$11 billion, which as India aims, should reach US$30 billion in another 10 years. “That was, perhaps, one of the first India-Russia annual Summits, a practice that goes on till date”, Modi said.
India has become an even more important market for Russian Federation since the West imposed economic sanctions, our correspondent says, adding that Moscow is looking to sell India its sophisticated S400 anti-aircraft systems.
Following the talks, a number of bilateral agreements are expected to be inked, in particular on transport, trade, energy and reciprocal trips of the citizens, the Kremlin press service said. “Or is there another set of laws for the Prime Minister, and another for ordinary citizens of India?” A team of 18 captains of the Indian industry will interact with 34 Russian CEOs on the sidelines of the 16th India-Russia annual summit.
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“BRICS, which was launched by President Putin, is making a major contribution to worldwide finance and trade, development finance, global terrorism, climate change, food security and sustainable development”, he said.