India announced on Saturday that it will buy the S-400 Triumf air defence system from Russia, worth over USD 5 billion, procure and and collaborate in making frigates and set up a joint production facility for making Kamov helicopters.
The deals were announced after talks between Prime Minister Narendra Modi and Russian President Vladimir Putin on the sidelines of the BRICS Summit.
The development comes as Russia hopes to stave off tough competition from the Americans and the Europeans to continue being India’s foremost defence supplier.
The two countries also signed a deal to pave the way for a group led by Russian oil major Rosneft to acquire India's Essar Oil in a deal worth $12 billion to $13 billion, including debt, two sources privy to the deal told Reuters. > More...
The full text of Mr. Modi's address is >here: .
Updates:
8.22 pm: Mr. Modi commended South Africa for the tremendous contribution it has made to the BRICS grouping: MEA spokesperson Vikas Swarup. President Zuma calls for expanding areas cooperation between the two countries and simplification of visa regime.
8.07 pm: The Chinese side is very well aware of our concerns, need for us to ensure that globally notified terrorists are designated by the UN, Mr. Swarup says. "We are maintaining dialogue with China on pushing for UN ban on JeM terrorist Masood Azhar. We expect that China will see the logic in it."
7.59 pm:
Yang Jiechi to meet NSA Ajit Doval soon, to discuss terror issues inc Masood Azhar desgination: >@MEAIndia
— Suhasini Haidar (@suhasinih) >October 15, 2016
7.57 pm: No country is immune to terrorism. India and China must increase cooperation to deal with terror, Mr. tells Mr. Xi: Mr. Swarup
7.56 pm: One round of consultations has taken place between the two sides. President Xi said the second round would be happening soon: Mr. Swarup
7.54 pm: There was a brief discussion on NSG, India looking forward to working with China to realise its membership of NSG: Mr. Swarup
7.53 pm: President Xi says terrorism and violent extremism are on the increase, alludes to the threat from ISIL: Mr. Swarup
8.03 pm: Mr. Modi says, "My meeting with President Xi Jinping was fruitful. We discussed various aspects of India-China ties."
7.51 pm:
PM Modi raises UNSC 126 terror committee, NSG membership with President Xi Jinping, calls for more coord.2nd round of nuclear talks soon.
— Suhasini Haidar (@suhasinih) >October 15, 2016
6.17 pm: Mr. Modi meets Chinese President Xi Jinping. Delegation level talks between India and China under way.
2.32 pm: The sense of meeting (between Mr. Modi and Mr. Putin) was that the relationship has really progressed well in the last 9 months,says Foreign Secretary S. Jaishankar
2.21 pm: Mr. Putin says: 'Industries of both countries are improving cooperation; military and technical cooperation is also improving'.
2.07 pm: The Prime Minister also appreciates Russia's clear stand on terrorism.
PM: We deeply appreciate Russia’s understanding and support of our actions to fight cross-border terrorism that threatens our entire region >pic.twitter.com/8UPRYj7Ov5
— Vikas Swarup (@MEAIndia) >October 15, 2016
2.05 pm : Mr. Modi says, "Cross border terrorism threatens the entire region."
2.02 pm: India proposes 8 new nuclear reactors from Russia. India will enlarge Indian presence in hydrocarbon sector, Mr. Modi says.
2.00 pm : The Prime Minister says, "Ka226T helicopters, frigates are new chapters in long history of partnership."
1.59 pm: Mr. Modi begins speech, says "an old friend is better than two new friends."
1.58 pm: Mr. Modi and Mr. Putin lay the foundation work of Kudankulam nuclear power plan;s units 3 and 4 by pressing buttons.
1.50 p.m.: Here is a list of MoUs and deals signed by India and Russia:
- Andhra Pradesh smart city project
- Shipbuilding in Andhra Pradesh
- Haryana smart city project
- Rosneft and Essar oil refinery infrastructure development
- Rosneft and OVL energy agreement
- Nagpur Secundrabad Hyderabad high speed train
- Ka226 helicopter deal
- Energy cooperation agreement for 2016 and '17
- Protocol for consultation between two foreign ministries of India and Russia
- Cyber security MoU
- Intergovernmental agreement on purchase of frigates from Russia
- S400 missile system deal
- Joint India Russia partnership for global security will be concluded today
- Kudankulam Unit 3 and 4 nuclear power plants ground laying in minutes.
- Special mention: Kudankulam unit 2 has begun generating energy.
- India Russia sign 18 agreements. A few likely to be announced later today.
1.45 p.m.: "We usually carry out inter-governmental discussion for finalising defence deals. We are headed for major defence deals that will be announced today," says Defence Minister Manohar Parrikar.
1.30 p.m.: Mr. Parrikar, Energy Minister Dharmendra Pradhan and NSA Doval in attendance at the India-Russia press briefing.
12.45 p.m.: Chinese Premier Xi Jinping lands in Goa.
Russia President Vladimir Putin in Goa. Photo: Prashant Nakwe
12.30 p.m.:Prakash Kamat reports: A couple of flights carrying international leaders like Mr. Putin and delegations from Russia land late at the Dabolim airport in south Goa due to foggy conditions in the morning.
It leads to inconvenice to a large number of passengers at the airport with change in their flight schedules and subsequently to the commuters on the sanitised route from airport to BRICS summit venue.
12 noon: Mr.Modi and Mr. Putin greet each other prior to their annual bilateral meeting in Goa on October 15, 2016. Photo: AP
11.45 a.m.: Mr. Putin and Mr. Modi to address the press and witness the signing of agreements from the 17th India-Russia annual summit.
11.40 a.m.: Officials say defence deals for the Rs. 39,000 crore Triumf missile system and 200 Kamov helicopters are expected to be announced.
11.35 a.m.: India-Russia bilateral begins: defence and energy cooperation likely to see a slew of agreements, terror will be at the top of the agenda.
