India, Russia sign record deals during Modi-Putin meet; what leaders discussed

Published on Dec 07, 2021 09:24 AM IST
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During the first Modi-Putin meeting in 2 years, India-Russia signed a record 28 deals. MOUs inked across sectors including trade, energy, culture, intellectual property and education. New Delhi and Moscow also signed a programme of cooperation in defence for the next 10 years. In addition, the two sides concluded a deal for India’s procurement of 600,000 AK-203 assault rifles. The AK-203 rifles are to be procured through the joint venture Indo-Russian rifles private limited. Target set to increase bilateral trade to $30b and bilateral investments to $50b by 2025. In his opening remarks at the summit, Modi said India-Russia friendship has ‘remained a constant’. Putin, in his opening address, described India as a ‘great power’ and a time-tested friend.

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