Putin and modi will discuss the steps to build up mutual trade

MOSCOW, December 24. The Russian President Vladimir Putin and Indian Prime Minister Narendra modi during the official visit of the head of the Indian government to Moscow to discuss the talks in the Kremlin concrete steps to increase mutual trade.

As reported to journalists the press-Secretary of Russian leader Dmitry Peskov, Putin and modi will hold talks in restricted format, the talks in the composition of delegations will sign several documents and make statements to the press. In a press-service of the Kremlin noted that following the talks it is planned to sign several bilateral documents, including in the areas of transport, trade, energy, security mutual trips of citizens.

Modi arrived in Russia on 23 November at the invitation of Putin’s two-day official visit. On Wednesday, the two leaders already had an informal conversation tete-a-tete. Last time policy met on 8 July on the sidelines of BRICS and SCO in Ufa.

In the Kremlin, stressed that economic cooperation will be one of the key discussion topics. “I mean to discuss concrete steps to increase mutual trade,” – said the press service of the Kremlin.

Cooperation between the two countries

According to the materials of the upcoming meeting data, in 2014, the two countries ‘ trade amounted to 9.5 billion dollars (reduction by 5.6% compared with the previous year; the exports from Russia, 6.34 bn USD, imports – 3,17 billion). By the end of 2014, India ranked 19th among Russian trading partners (1.2% of turnover). The share of Russia in foreign trade of India is of the order of 1%. For January-October 2015 the trade volume with India totaled $ 6.2 billion, a decrease of 14.4%.

In the Kremlin noted that cooperation in the energy sphere is developing successfully. The construction of NPP “Kudankulam”, which used the most advanced and secure technology solutions. Last year was put into commercial operation the first unit, in the coming months will be running the second block of the station. In the implementation stage and the agreement on construction of the second stage of the NPP (the third and fourth power units). Negotiations are underway for the fifth and sixth units. Just in the last 20 years will be built in India with 12 nuclear power units under Russian design.


Growing dynamics of export of Russian energy resources to the Indian market. NK “Rosneft” in the next 10 years plans to supply the Indian refineries to 10 million tonnes of oil and oil products. The character gains a strategic cooperation between Gazprom and Indian partners in the field of trade in liquefied natural gas (LNG). A promising direction is the organization of deliveries to India from the plant “far Eastern LNG” in the framework of the project “Sakhalin-1”. There are negotiations on joint search and development of hydrocarbon deposits on the Arctic shelf of Russia. In addition, developing cooperation in the implementation of major projects in thermal and hydropower.

In the field of high-tech manufacturing and metallurgy bilateral cooperation is also developing. “Tyazhpromexport” has already successfully implemented a number of projects to build steel plants in India. Currently the works for the construction of a metallurgical factory for the Indian company “Aryans”.

With regard to key international issues, the press service of the President of the Russian Federation, “the positions of Russia and India are close or coincide”. It is expected that the upcoming meeting between Putin and modi will discuss key global and regional issues, prospects of cooperation in multilateral organizations, primarily the UN, BRICS and SCO.

Earlier modi in an exclusive interview to first Deputy Director General Mikhail Gusman stressed that Russia and India can cooperate in various international venues for peace and prosperity. According to him, cooperation between the two countries is successfully developing in trade-economic and military-technical spheres, the energy sector, including nuclear and other areas.