India, Russia ink 16 pacts including def, nuclear energy
New Delhi Dec 26: In a major push to their strategic ties, India and Russia on Thursday decided to expand cooperation in various sectors as they signed 16 pacts, including on joint manufacture of 226 military helicopters and construction of 12 atomic plants with involvement of local companies in India.
After extensive talks with Russian President Vladimir Putin, Prime Minister Narendra Modi underlined the need for the world to unite against terrorism.
Sharing concern over terrorism, the two sides pressed for joint fight against the global menace “without selectivity and double standards”, said a joint statement issued after the talks between the two leaders in Moscow on Dec 24.
Putin conveyed Russia’s strong support to India’s bid for permanent membership of the UN Security Council, saying it is a “deserving and strong candidate that can bring an independent and responsible approach” within the world body.
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.
After the talks, the two sides signed 16 agreements. One of these was an agreement on manufacture of Kamov 226 helicopter in India, which, the Prime Minister, said is the first project for a major defence platform under ‘Make-in-India’ programme.
With regard to nuclear energy, Modi said the pace of cooperation is increasing and progress is being made on 12 Russian reactors at two sites in India.
Putin said Unit-II of Kudankulam atomic plant in Tamil Nadu, being built by Russia, will be commissioned within weeks and negotiations are at an advanced staged for Unit III and IV.
Meanwhile at another meeting with the Russian CEOs, PM Modi invited investments in areas like aerospace, infrastructure and diamond, and said his government has created a favorable environment to boost economic growth.
Hard selling India as an attractive business destination, he said India’s GDP has clocked an impressive 7.4 percent growth and the World Bank and International Monetary Fund (IMF) and other international agencies have projected this growth momentum to continue.
He further assured Russian investors that his government is committed to a fair taxation regime and the efforts towards improving the ease of doing business would go on. (With inputs from AIR News)
