Indian spares for Russian Army

Vladivostok: India will manufacture spare parts for Russian military equipment, in a significant development aimed at converting the decades-old buyer-seller relationship into one of collaboration.

A pact in this regard was signed here on Wednesday after talks between Prime Minister Narendra Modi and Russian President Vladimir Putin which focussed on adding new dimensions to the special relationship.

The two sides also agreed to extend by 10 more years, beyond 2020, the bilateral military and technical cooperation agreement.

Another key outcome of the Modi-Putin talks was the decisions taken in the energy sector, including the signing of MoU between Novatek and Petronet LNG Ltd on development of downstream LNG business and supplies.

Describing signing of these pacts as "major breakthroughs", Gokhale said energy is going to be an "emerging pillar" in the India-Russia relationship. He said India is in the process of diversifying its sources of energy and Russia is an attractive source. India was also looking at investing in a new energy block in Russia's Eastern cluster.

President Putin has promised that energy supplies from his country to India will be safe and cost effective, Gokhale said.

To a question, the Foreign Secretary asserted that India's move to expand energy ties with Russia had nothing to do with the problems faced in sourcing oil and LNG from Iran.

Another major significant decision was a Memorandum of Intent between the Indian Ministry of Shipping and Russia's Ministry of Transport on the development of maritime communications between the Port of Chennai and the Port of Vladivostok.

By AJAY KAUL

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in