MAKE-IN-INDIA: The agreements between Modi and Putin will increase Indian companies’ content in manufacture of military helicopters and nuclear reactors, among other things.
Moscow : In a major push to their strategic ties, India and Russia on Thursday decided to expand cooperation in various sectors as they signed 16 pacts, including one on joint manufacture of military helicopters and construction of atomic plants with involvement of local companies in India. The agreement on manufacture of Kamov 226 helicopter in India is the first major defence project under Make in India, Prime Minister Modi said. In the atomic field, the two sides signed a significant agreement for “Localization of Manufacturing in India for Russian-Designed Nuclear Reactor Units” to enable participation of Indian firms under the ‘Make-in-India’ programme. Affirming that their cooperation in the peaceful uses of nuclear energy is a cornerstone of the Russia-India strategic partnership, the two leaders appreciated the progress made in the Kudankulam Nuclear Power Project and agreed to expedite the implementation of ongoing and upcoming projects there.
The Unit-II of Kudan- kulam atomic plant in Tamil Nadu, being built by Russia, will be commissioned within weeks and negotiations are at an advanced staged for Unit III and IV. In the joint press statement with Russian President Vladimir Putin, Modi said, “The pace of our cooperation in nuclear energy is increasing. We are making progress on our plans for 12 Russian nuclear reactors at two sites.’’ ‘‘The agreement today will increase Indian manufacturing content in these reactors. It supports my mission of Make in India. I thank President Putin for his support,” the Prime Minister added.
He and Putin also agreed to institutionalise the CEO’s Forum, with two meetings every year, one to be held in India and the other in Russia. The volume of current bilateral trade between the two countries is $10 billion and both sides are aiming to take it to $30 billion over the next 10 years. “Nature has destined us to work together. From hydrocarbons, our cooperation is moving to the hardest form of carbon — diamonds,” PM Modi said at the CEO’s Forum, which he addressed along with Putin. Russia, he said, is keen on investing in Mumbai-Delhi industrial corridor.
On Wednesday night, President Putin had hosted a private dinner for PM Modi during which the two leaders touched upon issues of mutual interest. In the extensive talks on Thursday, both leaders underlined the need for the world to unite against terrorism “without distinction and discrimination between terrorist groups and target countries”, an apparent reference to sources of the menace. Sharing concern over terrorism, the two sides pressed for joint fight against the global menace “without selectivity and double standards”, said a joint statement issued after the talks between the two leaders. Putin conveyed Russia’s “strong support” to India’s bid for permanent membership of the UN Security Council, saying it is a “deserving and strong candidate that can bring an independent and responsible approach” within the world body.