Russia and India Plan Russian-Indian Investment Fund

Vladimir Putin with Narendra Modi. Photo: Kremlin/Konstantin Zavrazhin
Vladimir Putin with Narendra Modi. Photo: Kremlin/Konstantin Zavrazhin

Russia and India Plan Russian-Indian Investment Fund

President of Russia Vladimir Putin and India’s Prime Minister Narendra Modi signed a joint statement Saturday titled “Partnership for Peace and Stability on the Planet.”

Intergovernmental agreements have been signed on cooperation in ensuring security in information and communication technology use, on building 11356 project frigates in Russia and India, and on deliveries of S-400 Triumf anti-aircraft weapon systems to India.

According to a Kremlin communique, the documents signed also include agreements on establishing a Russian-Indian investment fund and a joint Kamov Ka-226T helicopter manufacturing enterprise.

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The agreement also covers a protocol on cooperation on the high-speed rail programme; a programme for expanding cooperation in the oil and gas sector; memorandums of understanding on reciprocal deployment of ground data collection stations of Russia’s GLONASS satellite navigation system and India’s NAVIC regional satellite navigation system and on expanding bilateral trade and economic partnership, as well as on cooperation in science and technology.

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A protocol has also been signed on consultations between Russian and Indian foreign ministries in 2017–18. A plan of events has been approved to mark the 70th anniversary of establishing diplomatic relations with the Republic of India.

After the talks, Vladimir Putin and Narendra Modi participated via video linkup in the launch of the construction of units 3 and 4 at the Kudankulam Nuclear Power Plant.

RMN News

Rakesh Raman