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15TH INDIA-RUSSIA ANNUAL SUMMIT


DRUZHBA-DOSTI

A FRIENDSHIP THAT MATTERS


The 15th 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. Specic 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 technologydriven products and scientic 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
elds 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 reafrmed 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 Pacic
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.