Progress was also made in trying to resolve the longstanding issue of Kudankulam 3 and 4.

“Negotiations for the construction of Units 3 and 4 at Kudankulam have madegood progress. We intend to continue implementing the Roadmap for cooperation in the nuclear energy sector that was signed during President Putin’s visit in 2010 as the then Prime Minister of Russia,” said the Indian Prime Minister Dr Manmohan Singh after the conclusion of the 13th India-Russia Annual Summit meeting with the visiting Russian President Vladimir Putin here on Monday.

“The development of our nuclear energy programme has been a key pillar of our strategic partnership, Dr Singh said and added “the construction of Unit 1 of the Kudankulam Nuclear Power Project is now complete, and power generation will commence shortly. India appreciates deeply the support extended by Russian engineers and scientists in this project. We look forward to the completion of Unit 2 next year.”

In the defence sector, a contract for delivery of 71 Mi-17V-5 helicopters was signed. An order for procurement of 59 Mi-17 v5 MLH was agreed to in February 2010, which was subsequently increased to 71. The current contract is in context of this order.

Also a contract for delivery of 42 technological kits for SU-30MKI aircraft licensed production was signed between the two parties. The Protocol-II on licensed manufacturing of additional 42 SU-30MKI aircraft units was signed during Annual Summit 2011. The current contract is a follow up to this Protocol.

“Russia is a key partner in our efforts to modernize our armed forces and enhance our defence preparedness. A number of joint design, development and production projects are underway in high technology areas. We expressed satisfaction that these projects are progressing well,” the Indian Prime Minister said.

A Memorandum of Understanding was signed by Bharat Sanchar Nigam Ltd, New Delhi and Mahanagar Telephone Nigam Ltd, New Delhi from the Indian side and NIS-GLONASS from the Russian side for conducting the proof of concept through pilot project for providing the Satellite based navigation services.

This MoU envisages a pilot project to assess the usage of the Russian Global Navigation Satellite System (GLONASS – the Russian equivalent of GPS) using the capabilities of BSNL/MTNL ground infrastructure. Success of the pilot project may provide insights for wider applicability of GLONASS signals in the future in areas such as disaster management, telephony and long-distance communications.

“Our science and technology cooperation remains robust. President Putin and I welcomed the operationalization of the India-Russia Joint Science and Technology Centres in India and Russia, which can assist the development and commercialization of promising technologies, including in nano-technology, bio-medicine and super-computing. I particularly welcome the agreement on cooperation in using the GLONASS satellite navigation system that has just been signed,” Dr Singh said.

A Memorandum on Cooperation (MoC) between the Indian Ministry of Science and Technology and the Russian Ministry for Education and Science was signed for science, technology and innovation cooperation.

This MoC will facilitate deepening cooperation in the field of innovation and S&T, through implementation of joint programs or projects involving educational, R&D and industrial institutions. It also stipulates formation of a Working Group to implement the provisions of this MoC.

A Memorandum of Understanding (MoU) to promote direct investment between Russia and India was signed.
This MoU envisages investments up to $ 2 billion in important bilateral projects or companies, privatization and other opportunities.

RDIF is a $ 10 billion sovereign-backed Russian private equity fund established by the Russian Government to co-invest alongside global institutional investors. Since its inception in 2011, it has led investments to $ 1.5 billion in Russian companies together with some of the largest asset managers in the world.

“Our bilateral trade has grown by over 30% this year. There is still untapped potential in areas such as pharmaceuticals, fertilizers, mining, steel, information technology, civil aviation, telecommunications, infrastructure, food processing, innovation and services, which we will work to exploit. We have asked our inter-governmental and business level groups to recommend specific steps for enhancing bilateral trade and investment flows,” the Indian Prime Minister said.

“Our energy cooperation also extends to the oil and natural gas sectors. I conveyed to President Putin India’s interest in deepening cooperation in this area, including through mutual investments and joint projects in third countries,” Dr Singh said.

An Agreement on Cultural Exchange Programme was signed between the Indian Ministry of Culture and the Russian Ministry of Culture for the Years 2013 – 15. The document envisages enhancing bilateral cultural contacts through exchanges in performing arts, films, archives, museums and conservation, literature and language and through organization of reciprocal Festivals. It is in continuation to the previous CEP 2009-12. It also aims to preserve and promote the legacy of the Roerich Estate in Kullu in Himachal Pradesh, an important icon of cultural cooperation between the two countries.

With a view to keep up the engagements between the two countries, Protocol on Foreign Office Consultations for the year 2013-14 was signed. This Protocol is an instrument to continue the tradition of close political consultations between the two Foreign Offices. The current Protocol outlines seventeen different broad themes for such exchanges. The bi-annual Protocol mechanism enables frequent contacts and promotes broad-based understanding between the various wings of the two Foreign Offices.

A Strategic Cooperation Agreement was signed between Tata Consultancy Services Ltd and Joint Stock Company - Navigation Information Systems (NIS) of Russia. This Agreement shall establish and strengthen technology partner relations between the two enterprises in software development, systems integration, product engineering, professional services for and marketing of NIS products and TCS Solution frameworks. The areas of cooperation visualized concern sectors such as information technology enabled services, telecommunication systems, manufacturing.

A Joint Venture Agreement was signed between Elcom Systems Private Ltd. and OAO 'Vertoleti Rassi” (JSC 'Helicopters Russia”).

This joint venture aims to set up in India, a modern industrial facility for manufacturing of Russian models of helicopters (Ka- and Mi- brands). The JV will serve as an industrial base for hi-tech rotorcraft products from Russia to India and shall contribute to the development of the domestic aerospace industry. The enterprise will be eligible for implementing offset projects under various procurement tenders in India.JSC 'Russian Helicopters” is a leading player in the global helicopter industry engaged in the business of modern civilian and military helicopters and training of aviation personnel. Elcom Systems is an established entity in the Indian telecommunications, security and navigation sectors.

A Memorandum of Understanding for Joint Venture arrangement was signed between Elder Pharmaceuticals Ltd, Mumbai and Pharm Eco of Russia. The joint venture company will engage in the manufacturing, marketing and distribution of pharmaceuticals in Russia and other countries and envisages an investment of at least US$ 100 million. PharmEco will have 51% stake in the joint venture while Elder Pharmaceuticals will own 49% in the joint venture company.

Dr Singh described the Summit level talks with Putin “fruitful”. He congratulated Putin on Russia’s assumption of the Chair of G-20.

“This morning, we undertook an extensive review of our multi-faceted bilateralcooperation, especially in energy, defence, space, trade and investment, science andtechnology, education, culture and tourism. The documents signed during this visitwill further strengthen the framework for our cooperation,” he said.

Both India and Russia agreed to cooperate for development of Afghanistan and agreed to work together against threats posed by extremist ideologies and drug trafficking. They agreed to strengthen security cooperation in Asia and in the Indian and Pacific Oceans regions and promoting cooperation among emerging economies, particularly in the context of BRICS.