India and Russia today sealed a number of deals during bilateral talk held on the sidelines of BRICS 2016 Summit in Goa. According to reports, a total of 16 agreements worth billions were signed. The deals signed between India and Russia ranged from defense weaponry to manufacturing of food centers. We summarize here key agreements signed between the nations in BRICS 2016-
1. S-400 Triumph Air Defense System
Deal for five S-400 Triumph worth $5 billion was the foremost deal signed between the nations. The long-range air defense missile system has the capability to destroy incoming hostile aircraft, missiles and even drones at ranges of up to 400 km. India purchasing S-400 is game changer in the region.
2. Kamov 226T Choppers
The aging Cheetah and Chetak choppers fleet had India worried for an alternative. Russia solved this problem for India when they signed a complex agreement for production of 200 Kamov 226T helicopters domestically under a nearly $1 billion deal. Kamov 226T is a powerful, light multirole helicopter with high safety standards, incredibly precise hovering ability and excellent maneuverability. It has eco-friendly features, efficiency, modern avionics and additional flight safety solutions – making this one of the best models in its class.
3. Project 11356
Another important deal is for four Admiral Grigorovich-class (Project 11356) guided-missile stealth frigates. Under this deal, two vessels will come from Russia and the other two will be built in India with Russian collaboration. No decision has been made on the selection of the Indian shipyard.
4. Kudamkulam Nuclear Power Plant
Narendra Modi and Putin jointly unveiled a plaque for the Unit 2 of the Kudamkulam plant. The two leaders also witnessed the laying of the foundation concrete of the plant’s Units 3 and 4, being built jointly by the two countries in Tirunelveli district of Tamil Nadu. Once the plant reaches full capacity it will share the fifth position in terms of power generation with Zaporizhzhia Nuclear Power Plant, Ukraine. The Ukraine plant already generates a net capacity of 5,700MW and a gross capacity of 6,000MW. Once completely set up, the Kudankulam plant will generate 6,000 MW of power as well.
5. Purchase Of Essar Oil
In the energy sector, a Russian consortium of companies comprising of energy giant Rosneft Oil, commodities trader Trafigura and private investment group United Capital Partners have agreed to purchase 98% of Essar Oil for $10.9 billion. Rosneft has also signed an agreement with ONGC Videsh for education and training in the oil and gas sector. The deals will help the Essar Oil reduce its debt of about Rs 80,000 crore that it took to purchase steel and oil assets overseas and expand capacity at home.
6. Gas Pipeline From India To Russia
Another important agreement was signed for the joint study of a gas pipeline to India from Russia. The nations assigned their respective domestic companies—Engineers India Ltd and Gazprom PJSC—to jointly study and prepare a blueprint for laying a gas pipeline between the two countries. The move is part of India’s plan to enhance the use of natural gas in its energy mix and to increase trade with Russia, for which an international North-South transport corridor is also under implementation.
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7. Other Notable Deals Between India And Russia
- MoU signed between JSC United Shipbuilding Corporation and Council for Economic Cooperation of Andhra Pradesh for cooperation in shipbuilding
- MoU between Isro and ROSCOSMOS on Mutual Allocation of Ground Measurement Gathering Stations for GLONASS AND NAvIC
- MoU for Haryana smart city project
- Cyber security MoU
- MoU for setting up of Investment Fund between NIIF and RDIF
- Protocol for consultation between two foreign ministries of India and Russia
- Nagpur Secundrabad Hyderabad high speed train
- Signing of MoU for setting up of Investment Fund between NIIF and RDIF