India, Russia galvanise economic and strategic ties, sign 20 pacts

Unveiling a decade-long vision of their strategic ties, India and Russia have pitchforked their relations onto a higher trajectory by signing a clutch of pacts in areas ranging from nuclear energy, defence, hydrocarbons, culture and public health.
The two strategic partners also signalled a major upswing in their economic ties with corporate entities of the two sides signing over a dozen agreements that includes co-investment through a joint fund, exploration of oil fields and the development of nuclear power.
The first annual summit meeting between India’s Prime Minister Narendra Modi and Russian President Vladimir Putin in New Delhi December 11 has culminated in an all-encompassing joint statement entitled “Druzhba-Dosti: A Vision for strengthening the Indian-Russian Partnership over the next decade.”
Underlining the importance of Russia for India’s foreign policy calculus and national development, Mr Modi said: “The character of global politics and international relations is changing. However, the importance of this relationship and its unique place in India’s foreign policy will not change.”
“In many ways, its significance to both countries will grow further in the future,” Mr Modi said a joint press appearance with the Russian president.
At a time when Mr Putin is becoming increasingly isolated by the West over his Ukraine policy, Mr Modi’s unstinted praise must be music to the ears of the Russian leader. President Putin is a leader of a great nation with which we have a friendship of unmatched mutual confidence, trust and goodwill. We have a Strategic Partnership that is incomparable in content.”
In yet another set of remarks that is bound to cheer Mr Putin, Mr Modi described Russia as India’s foremost defence partner and predicted that it will remain so in years to come despite New Delhi diversifying its arms purchases in recent years.
The two countries also signed a separate document entitled “strategic vision for strengthening cooperation in peaceful uses of atomic energy” that entails Moscow building a series of nuclear reactors in India over the next few years.

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