India, Russia sign Pacts on Oil, Defence, Atomic Energy

New Delhi, Dec 11: The meeting between two popular world leaders Indian Prime Minister Narendra Modi and Russian President Vladimir Putin turned out to be fruitful with the signing of bilateral agreements on oil, defence force training and atomic energy sectors.

Russia has agreed to fully manufacture in India its most advanced helicopters encouraging the "Make in India" project. Both the leaders discussed broad range of defence project. They outlined an ambitious vision for nuclear security of at least 10 more reactors which will give utmost security to the world.

The two placed a particular emphasis on the trade and economic issues. They had constructive talks on a whole range of issues. They took a number of decisions and signed agreements with a shared belief that in today's world, vibrant economic relations constitute to play a big part in economic welfare.

Putin arrived here late last night to attend the annual summit talks with Prime Minister Modi on Thursday. His two-day visit is aimed at building close strategic ties particularly in the fields of nuclear energy, hydrocarbons and defence. After the talks at Hyderabad House, the two leaders inked several pacts today paving a way to boost the energy and power sectors in India.

In a joint statement, Modi praised Putin for his continuous support and aid to India in security and international relation. "He is a great leader of the nation with which we have an unmatched mutual consent, trust and goodwill. He has been a pillar of strength for India's security and International relations", he said,

India has also reciprocated in a similar manner by always standing by Russia in the adverse situations. "India has also stood with Russia through various challenges. Russia has been India's foremost defence partner in defence. Russia remain our most important defence partner. It is a challenging moment in the world. Our partnership that has been in place for several years will remain intact", he said.

Russian Head Putin in his statement said, "We are mostly content with how this meet has been conducted and the decisions that have been taken". He said that his country intends to deepen the economic and defence ties with India as both the countries have faced particular emphasis on international issues, whether similar or close. They discussed a possibility of a free trade area.

Russia and India will together participate in the world diamond conference. India is the leader in producing diamonds, Modi said at the conclusion of the joint statement.

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