15TH INDIA-RUSSIA ANNUAL SUMMIT DRUZHBA-DOSTI A FRIENDSHIP THAT MATTERS th The 15 India-Russia bilateral summit concluded with 20 agreements signed between the two countries worth US$100 billion with major focus on 'Make in India' campaign. The two Asian giants decided that Russia will manufacture advanced military helicopters in India and set up 12 new nuclear reactors by 2035 to meet growing energy demand. The Takeaways from the Summit are: 1. Deals worth $40 billion in nuclear energy 2. Deals worth $50 billion in crude oil and gas 3. Deals worth $10 billion in a host of other sectors, including defense, fertilizers, space, and diamonds 4. India and Russia agreed that Russia would be constructing 12 new nuclear reactors for India. India would soon be identifying a second site to host these plants, apart from Kudankulam in the southern Indian state of Tamil Nadu. 5. Russia producing state-of-the-art multi-role helicopters in Indian factories to cut down on costs and time overruns. 6. First major defense project under Prime Minister Modi's favorite scheme 'Make-in-India'. 7. Specific decadal roadmap for bringing about a complete transformation in the Indo-Russian bilateral ties and taking them to a much higher trajectory than ever before. 8. Broader collaboration between hydrocarbon companies of the two countries in oil and gas exploration and production as well as in LNG projects and supplies. 9. Avenues for participation in petrochemical projects in each other's country and in third world countries. 10. Supply of equipment, technology for enhanced oil recoveries and extraction of coal, including cooking coal. 11. India and Russia will enhance cooperation in joint design, development, manufacturing and marketing of technology- driven products and scientific communication between the two countries. 12. India and Russia recognize the importance of the Arctic and the contributions in promoting cooperative activities to address Arctic issues. 13. In view of the importance of safeguarding food security, the sides would expect to conduct further joint research in the fields of horticulture and biotechnology. 14. Enhanced cooperation in rare earth minerals' mining, technology development and research. 15. Promote bilateral economic, trade and investment cooperation to contribute to the enhanced role of emerging markets in the world economy and to foster sustainable, balanced and inclusive global growth. fiinovation
Fiinovation report on 15th India –Russia annual summit 2014
Apr 06, 2016
The 15 India-Russia bilateral summit concluded with 20 agreements signed between the two countries worth US$100 billion with major focus on 'Make in India' campaign. The two Asian giants decided that Russia will manufacture advanced military helicopters in India and set up 12 new nuclear reactors by 2035 to meet growing energy demand.
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15TH INDIA-RUSSIA ANNUAL SUMMIT
DRUZHBA-DOSTI
A FRIENDSHIP THAT MATTERSthThe 15 India-Russia bilateral summit concluded with 20 agreements signed
between the two countries worth US$100 billion with major focus on 'Make in India' campaign. The two Asian giants decided that Russia will manufacture advanced military helicopters in India and set up 12 new nuclear reactors by 2035 to meet growing energy demand.
The Takeaways from the Summit are:
1. Deals worth $40 billion in nuclear energy
2. Deals worth $50 billion in crude oil and gas
3. Deals worth $10 billion in a host of other sectors, including defense, fertilizers, space, and diamonds
4. India and Russia agreed that Russia would be constructing 12 new nuclear reactors for India. India would soon be identifying a second site to host these plants, apart from Kudankulam in the southern Indian state of Tamil Nadu.
5. Russia producing state-of-the-art multi-role helicopters in Indian factories to cut down on costs and time overruns.
6. First major defense project under Prime Minister Modi's favorite scheme 'Make-in-India'.
7. Specific decadal roadmap for bringing about a complete transformation in the Indo-Russian bilateral ties and taking them to a much higher trajectory than ever before.
8. Broader collaboration between hydrocarbon companies of the two countries in oil and gas exploration and production as well as in LNG projects and supplies.
9. Avenues for participation in petrochemical projects in each other's country and in third world countries.
10. Supply of equipment, technology for enhanced oil recoveries and extraction of coal, including cooking coal.
11. India and Russia will enhance cooperation in joint design, development, manufacturing and marketing of technology-driven products and scientific communication between the two countries.
12. India and Russia recognize the importance of the Arctic and the contributions in promoting cooperative activities to address Arctic issues.
13. In view of the importance of safeguarding food security, the sides would expect to conduct further joint research in the fields of horticulture and biotechnology.
14. Enhanced cooperation in rare earth minerals' mining, technology development and research.
15. Promote bilateral economic, trade and investment cooperation to contribute to the enhanced role of emerging markets in the world economy and to foster sustainable, balanced and inclusive global growth.
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16. Indian and Russian enterprises to explore new opportunities arising from the increasing national focus on infrastructure development and expanding the manufacturing sector.
17. Encouragement to payments in national currencies for bilateral trade.
18. India and Russia to work together to conclude the necessary multilateral arrangements and to step up the use of the International North-South Transport corridor at the earliest.
19. Invitation for companies of the two countries to realize the substantial opportunities in engineering; pharmaceuticals; information and communication technology; chemicals; fertilizers; metallurgy; agro and animal products; and transport.
20. Efforts for enhancing bilateral trade in the coming years and set a target of bilateral trade turnover of goods and services at US$30 billion by the year 2025. It is expected that the level of mutual investments by then will be over US$15 billion each way.
21. India and Russia will work together to promote a polycentric and democratic world order based on shared interests of all countries. 22. India and Russia reaffirmed the need for UN Security Council reform in order to make it more representative and effective in dealing with emerging challenges.
23. India and Russia support the evolution of open, balanced and inclusive security architecture in the Asia Pacific region based on collective efforts, considering legitimate interests of all states of the region and guided by respect for norms and principles of international law.
24. India and Russia agreed to work together for the adoption of the Comprehensive Convention on International Terrorism by the 70th Anniversary Summit of the UN.
25. The two governments will promote and support cultural exchanges (people-to-people ties) through annual festivals of culture, exchanges between cultural institutions, think tanks, tourism promotion events and other initiatives.
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