President of Russia Mr Vladimir Putin visited India (Goa) for the India-Russia Annual Summit and the 8th BRICS Summit.
Delegation level talks were held at the level of Prime Minister of India and President of Russia.
Both sides welcomed the outcomes of the 22nd meeting of the Indian-Russian Inter-Governmental Commission (IGC) on Trade, Economic, Scientific, Technological and Cultural Cooperation held in New Delhi on 13 September 2016 and called for early finalization of new proposals identified during the IGC.
Both Sides reiterated their commitment to further easing of business. They further noted the creation of bilateral investment fund by National Infrastructure Investment Fund (NIIF) of India with Russian Direct Investment Fund (RDIF) to facilitate high-technology investments in Russia and India.
The Sides particularly welcomed the recent investment by India in the Russian oil sector and called on companies in both countries to finalize new and ambitious investment proposals in similar promising sectors such as pharmaceuticals, chemical industry, mining, machine building, implementation of infrastructure projects, cooperation in railway sector, fertilizer production, automobiles and aircraft construction as well as collaborative ventures in modernizing each other’s industrial facilities.
The Sides favourably assessed the ongoing cooperation between the railway organizations of the two countries and urged them to intensify it further.
Following 19 Agreements/MoUs were signed between India and Russia:
1. Memorandum of Understanding proposed to be executed between EDB, Joint Stock Company Аlexeev’s Central Hydrofoil Design Bureau, Joint Stock Company Radar Mms, Joint Stock Company Morinsis-AGAT and Elcom Systems Private Limited for developing the following:(i) a single integrated Transport Logistics System, (ii) concept of “Smart city”, and (iii) intellectual monitoring system for the areas of high responsibility, in the State of Andhra Pradesh.
2. MoU between JSC United Shipbuilding Corporation and the Council for Economic Cooperation of Andhra Pradesh on studying perspectives for cooperation in shipbuilding, implementation of infrastructure projects, transfer of technologies and training foreign specialists.
3. MoU between JSC “Rusinformexport” and the Ministry of Urban Development of India, Ministry of Home Affairs, State Company National Buildings Construction Corporation Ltd., Government of Haryana on Cooperation in the implementation of “smart cities” program in India with the use of IT solutions of the Russian companies.
4. MoU between Gazprom and Engineers India Limited on the joint study of a gas pipeline to India and the other possible areas of Cooperation
5. Essar – Rosneft announcement
6. Cooperation Agreement in the area of Education and Training between Rosneft Oil Company and ONGC Videsh Limited
7. Signing of MoU for setting up of Investment Fund between NIIF and RDIF.
8. Signing of MoU for Cooperation between Indian and Russian railways in increasing the speed of trains between Nagpur- Secundrabad / Hyderabad
9. Signing of the shareholder agreement for establishing a Joint Venture to manufacture Ka-226T helicopter in India.
10. MoU between ISRO and ROSCOSMOS on Mutual Allocation of Ground Measurement Gathering Stations for GLONASS AND NAvIC
11. MoU between Ministry of Economic Development of the Russian Federation and the Ministry of Commerce and Industry of Republic of India on expansion of Bilateral Trade and Economic Cooperation
12. MoU between Department of Science & Technology (India) and FASO (Russia)
13. Programme of Cooperation in Oil and Gas Sector for the period 2017-18
14. Protocol for consultations between the Ministry of External Affairs & Ministry of Foreign Affairs of Russia for the period 2017-18.
15. Agreement on cooperation in International Information Security
16. Signing of IGA to purchase/construct four additional 1135.6 frigates though partnership between Russian and Indian shipyard
17. Signing of IGA for the procurement of S-400 Air Defence System.
18. ‘Roadmap of Events’ to celebrate the 70th anniversary of the establishment of diplomatic relations between India and Russian in 2017
19. Joint Statement “Partnership for Global Peace and Stability