NEW DELHI: Prime Minister Narendra Modi and Russian President Vladimir Putin got straight down to talks today on boosting nuclear and defence cooperation at a summit aimed at reviving an old friendship that has faded over the years. (As President Putin Arrives for 22-Hour Visit, PM Narendra Modi Tweets 'Our Friendship Has Not Changed ')
Putin's one-day visit to India, at which a raft of agreements were signed, comes at a time when Russia is at odds with the West over Ukraine, and its economy is stalling as oil prices tumble to their lowest in five years.
Here are some of the key announcements:
Energy
* Russia's state-owned Rosatom will supply 12 nuclear energy reactors to India over 20 years, under an agreement aimed at boosting nuclear energy ties between the two countries. (India Will Build At Least 10 More Nuclear Reactors With Russia's Help: PM Modi)
* India's Essar Group signed a deal with Russian oil producer Rosneft to import oil. (Essar Group, Rosneft to Sign 10-Year Oil Deal: Report)
* Russian bank VTB will open a $1 billion credit line to Essar Group, chief executive Andrei Kostin said. (Russian Bank VTB to Lend India's Essar $1 Billion)
* The Russian Direct Investment Fund will team up with an Indian infrastructure financing company, IDFC, to invest $1 billion in hydroelectric projects in Asia's third-largest economy.
* India's Tata Power signed a pact with the Russian Direct Investment Fund to increase energy investment between the two countries.
Defence
* Russia, which is India's top defence supplier, offers to manufacture an advanced helicopter inIndia. (Russia Remains Our Top Defence Partner, Says PM Modi After Meeting President Putin: 10 Updates)
Credit to NDTV.com
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