Russian President Vladimir Putin has arrived in India on Wednesday night for a one-day visit to hold bilateral talks on the 15th Annual India-Russia Summit with Prime Minister Narendra Modi, on Thursday.
On the arrival of the President, about 20 agreements are likely to be signed between the countries including civil nuclear energy, trade and defence. The meeting with the leaders for the 15th Annual India-Russia Summit is scheduled to be held at Hyderabad House today.
According to a report from IANS, Putin’s visit comes at a time when the Russian economy is buffeted by Western economic sanctions over Ukraine and falling oil prices that has led to a sharp fall in the rouble. However, India has already laid the ground for taking forward the close ties by stating that it has clearly spelt out that it “cannot be party” to any economic sanctions against its old friend.
During the visit of the Russian President, Modi said that he looks forward to a productive visit that will take India-Russia ties to newer heights.
On his micro blogging site, Modi has tweeted, “The bond between the people of Russia & India is very strong. Our nations have stood by each other through thick and thin. Times have changed, our friendship has not. Now, we want to take this relation to the next level & this visit is a step in that direction.”
After Modi government came to power, this is the first full-fledged summit between the countries. Meanwhile, an interaction with the CEO’s of the country will take place at the venue by the 15-member team of top business officials, who arrived with Putin.
As per reports, the summit talks will see both sides outline a joint vision of the relationship for the next decade. It will provide a roadmap for enhancing the partnership to qualitatively new levels and have a strong focus on redefining the economic partnership.
Amid, Russia has said that the bilateral trade, which stands at $10 billion, is way too low and needs to be boosted. Agreements in the field of hydrocarbons are also expected to be signed with Russia voicing readiness to offer India more fields to scout for oil in the Siberian region.
Putin, who arrived in India yesterday, have a packed diplomatic schedule for 24-hour visit.