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‘An old friend better than two new friends,’ PM Modi tells President Putin
Panaji: India on Saturday announced that it will buy the S-400 Triumf air defence systems from Russia, worth over USD 5 billion, and collaborate in making four state of art frigates besides setting up a joint production facility for making Kamov helicopters.
The deals were announced following talks held between Prime Minister Narendra Modi and Russian President Vladimir Putin on the sidelines of the BRICS Summit being held here.
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 most strategically important decision is the Inter Governmental Agreement for the purchase of S-400 'Triumf' long-range air defence missile system which has the capability to destroy incoming hostile aircraft, missiles and even drones at ranges of up to 400 km.
India and Russia have been in talks for over a year for the purchase of at least five systems of S-400 that will be a game changer in the region. It is capable of firing three types of missiles, creating a layered defence, and simultaneously engaging 36 targets. By signing the deal, India became the second customer of the prized missile system after China which had struck a USD 3 billion contract last year.
Another important deal is for four Admiral Grigorovich-class (Project 11356) guided-missile stealth frigates. Under this deal, two vessels will come from Russian and while the other two will be built in India with Russian collaboration. No decision has been made on the selection of the Indian shipyard.
This is in furtherance to the six Talwar-class frigates that Russia built for the Indian Navy between 2003 and 2013.
The complex agreement for production of 200 Kamov 226T helicopters domestically under a nearly USD 1 billion deal to replace the country's aging Cheetah and Chetak choppers is yet another important defence deal between the countries.
A number of pacts on cooperation in energy, power, shipbuilding, space and smart cities were signed after the talks.
Foundation of unit 3 and 4 of Kudankulam nuclear plant was also laid by Narendra Modi and Vladimir Putin.
Here are the highlights:
Narendra Modi:
India and Russia are moving towards a bright future. In last 4 months, in Hydrocarbon sector, Indian companies have invested close to $ 5.5 billion in Russia’s Oil and Gas sector.
We both agree on zero tolerance towards terrorism and also on the situation in Afghanistan.
We deeply appreciate Russia’s understanding and support of our actions to fight cross-border terrorism that threatens our entire region.
Russia’s clear stand on the need to combat terrorism mirrors our own.
The success of this summit highlights our (India-Russia) strong convergence of views on pressing issues.
We continue to expand, diversify and deepen economic engagement. Businesses and Industry between our countries is connected more deeply today.
With an eye on the future we also agreed to setup a Science and Technology Commission.
We agreed to work on an annual military industrial conference that will allow stakeholders on both sides to institute & push collaboration.
Aware of Putin’s affection for India, he has enhanced India-Russia ties.
Ours is a truly privileged and unique relationship. An old friend is better than two new friends, says Modi on India-Russia ties.
Vladimir Putin
Companies of both countries are improving industrial cooperation, military and technical cooperation also improving.
Narendra Modi will also meet Chinese President Xi Jinping later today.
Eighth BRICS Summit and first-ever BRICS-BIMSTEC Outreach Summit is starting in Goa today.
While the five-member BRICS group comprises Brazil, Russia, India, China and South Africa, the seven-member BIMSTEC bloc has Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
http://www.indiandefensenews.in/2016/10/an-old-friend-better-than-two-new.html
Panaji: India on Saturday announced that it will buy the S-400 Triumf air defence systems from Russia, worth over USD 5 billion, and collaborate in making four state of art frigates besides setting up a joint production facility for making Kamov helicopters.
The deals were announced following talks held between Prime Minister Narendra Modi and Russian President Vladimir Putin on the sidelines of the BRICS Summit being held here.
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 most strategically important decision is the Inter Governmental Agreement for the purchase of S-400 'Triumf' long-range air defence missile system which has the capability to destroy incoming hostile aircraft, missiles and even drones at ranges of up to 400 km.
India and Russia have been in talks for over a year for the purchase of at least five systems of S-400 that will be a game changer in the region. It is capable of firing three types of missiles, creating a layered defence, and simultaneously engaging 36 targets. By signing the deal, India became the second customer of the prized missile system after China which had struck a USD 3 billion contract last year.
Another important deal is for four Admiral Grigorovich-class (Project 11356) guided-missile stealth frigates. Under this deal, two vessels will come from Russian and while the other two will be built in India with Russian collaboration. No decision has been made on the selection of the Indian shipyard.
This is in furtherance to the six Talwar-class frigates that Russia built for the Indian Navy between 2003 and 2013.
The complex agreement for production of 200 Kamov 226T helicopters domestically under a nearly USD 1 billion deal to replace the country's aging Cheetah and Chetak choppers is yet another important defence deal between the countries.
A number of pacts on cooperation in energy, power, shipbuilding, space and smart cities were signed after the talks.
Foundation of unit 3 and 4 of Kudankulam nuclear plant was also laid by Narendra Modi and Vladimir Putin.
Here are the highlights:
Narendra Modi:
India and Russia are moving towards a bright future. In last 4 months, in Hydrocarbon sector, Indian companies have invested close to $ 5.5 billion in Russia’s Oil and Gas sector.
We both agree on zero tolerance towards terrorism and also on the situation in Afghanistan.
We deeply appreciate Russia’s understanding and support of our actions to fight cross-border terrorism that threatens our entire region.
Russia’s clear stand on the need to combat terrorism mirrors our own.
The success of this summit highlights our (India-Russia) strong convergence of views on pressing issues.
We continue to expand, diversify and deepen economic engagement. Businesses and Industry between our countries is connected more deeply today.
With an eye on the future we also agreed to setup a Science and Technology Commission.
We agreed to work on an annual military industrial conference that will allow stakeholders on both sides to institute & push collaboration.
Aware of Putin’s affection for India, he has enhanced India-Russia ties.
Ours is a truly privileged and unique relationship. An old friend is better than two new friends, says Modi on India-Russia ties.
Vladimir Putin
Companies of both countries are improving industrial cooperation, military and technical cooperation also improving.
Narendra Modi will also meet Chinese President Xi Jinping later today.
Eighth BRICS Summit and first-ever BRICS-BIMSTEC Outreach Summit is starting in Goa today.
While the five-member BRICS group comprises Brazil, Russia, India, China and South Africa, the seven-member BIMSTEC bloc has Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
http://www.indiandefensenews.in/2016/10/an-old-friend-better-than-two-new.html
