Newsroom24x7 Staff

Panaji (Goa): Prime Minister Narendra Modi today welcomed Russian president Vladimir Putin in Goa by focusing attention on the abiding strength of India-Russia strategic partnership and stating that the highly productive outcomes of their meeting today lay the foundation for deeper defence and economic ties in years ahead.

Modi said that the agreements with Russia on manufacturing of Kamov 226T helicopters; constructions of frigates; and acquisition and building of other defence platforms are in synergy with India’s technology and security priorities. They also help us achieve the objectives of Make in India. We have agreed to work on an annual military industrial conference that will allow stakeholders on both sides to institute and push collaboration, Modi said adding these projects are new chapters in a long history of strong and diverse defence partnership that both sides can take much pride in.

The PM said that with dedication today of Kudankulum 2 and laying of foundation concrete of Kundankulum 3 and 4, one saw the tangible results of India-Russia cooperation in the field of Civil Nuclear Energy. And, with proposed construction of another eight reactors, our wide ranging cooperation in nuclear energy is set to bring rich dividends for both of us. It also fits in with the needs of energy security, access to high technology and greater localization and manufacturing in India.

Last year in Moscow, Modi said that he had said that India would be enlarging its presence in Russia’s Hydrocarbon sector. In last four months alone, in a clear expression of our strong and deep engagement in the Hydrocarbon sector, Indian companies have invested close to US Dollars 5.5 billion in Russia’s Oil and Gas sector. And, with President Putin’s support, we are ready and willing to expand the scope of our engagement further. We are also undertaking a joint study of a gas pipeline route between our two countries. A combination of robust civil nuclear cooperation, LNG sourcing, partnership in the Oil and Gas sector, and engagement in renewables can construct a promising ‘Energy Bridge’ between our two countries.

We also agreed to set up a Science and Technology Commission, said the Indian Prime Minister. Through this, he went on to observe, our societies will reap the benefits of joint development, transfer and sharing of cutting edge technologies in different fields. As with the last Summit, we also continue to expand, diversify and deepen our economic engagement.Businesses and Industry between our two countries is connected more deeply today. Trade and investment ties are on the upswing. And, with President Putin’s backing, we hope to fast track India’s association with Eurasian Economic Union Free Trade Agreement. The Green Corridor and the International North South Transport Corridor will serve to strengthen trade facilitation, logistical links and ensure better connectivity between our countries. Our efforts for early setting up of the Investment Fund of US Dollars 1 billion between National Investment and Infrastructure Fund (NIIF) and Russia Direct Investment Fund (RDIF) will help advance our infrastructure partnership. We also want our economic linkages to connect the regions and states in both countries.

The Prime Minister said there is strong convergence of views and positions on pressing international and regional issues between both countries.

Modi further said:

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.

We both affirmed the need for zero tolerance in dealing with terrorists and their supporters.

President Putin and I noted the similarity of our views on the situation in Afghanistan and turmoil in West Asia.

We also agreed to work closely to respond to the challenges posed by the unsettled nature of the global economic and financial markets.

Our close collaboration at the United Nations, BRICS, East Asia Summit, G-20, Shanghai Cooperation Organization makes our partnership truly global, both in its scope and coverage.

BRICS Summit

Russian President Vladimir Putin, Xi Jinping, President of China, Jacob Zuma, President of South Africa, Michel Temer, President of Brazil have arrived in Goa to attend BRICS Summit BRICS and India-Brazil Summit. Temor is also in Goa to attend the India-Brazil Summit