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India, Russia ink bilateral pacts in fields of defence, investment, science and technology

Source : ANI
Last Updated: Mon, Dec 24, 2012 14:50 hrs

India and Russia inked about ten bilateral agreements for strong tie up in the fields of defence, space, trade, investment, science and technology, education, culture and tourism and nuclear energy here on Monday.

Prime Minister Manmohan Singh and Russian President Vladimir Putin along with various ministers from both sides held a comprehensive talks on all key issues at 7, Racecourse Road, the official residence of the Prime Minister.

During the meeting, Putin and Dr. Singh hailed the cooperation that exists between both countries as officials signed a contract for Delivery of 71 Mi-17V-5 helicopters and 42 technological kits for SU-30MKI aircraft licensed production.

An order for procurement of 59 Mi-17 v5 MLH was agreed to in Feb 2010, which was subsequently increased to 71. The current contract is in context of the order.

External Affairs Minister Salman Khurshid and his Russian counterpart, S. Lavrov singed a bilateral protocol on foreign office consultations.

The 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.

Minister for Science and Technology Jaipal Reddy and Russian Minister for Education and Science, Dmitry Livanov inked a Memorandum on Cooperation (MoC) between both the ministries.

The memorandum shall facilitate deepening cooperation in the field of innovation and science and technology, through implementation of joint programmes or projects involving educational and industrial institutions. It also stipulates formation of a working group to implement these provisions.

A Memorandum of Understanding (MoU) to promote direct investment between Russia and India up to USD two billion in important bilateral projects or companies, privatisation and other opportunities.

Another MoU was signed between Bharat Sanchar Nigam Limited (BSNL), Mahanagar Telephone Nigam Limited (MTNL) and NIS-GLONASS (Russia) for conducting the proof of concept through pilot project for providing the Satellite based navigation services.

Strategic Cooperation Agreement between Tata Consultancy Services Ltd. and Joint Stock Company "Navigation Information Systems" (NIS) of Russia was signed, which will 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.

Both the countries agreed for a joint venture agreement between Elcom Systems Private Ltd. (India) and OAO (Russia).

The joint venture aims to set up in India, a modern industrial facility for manufacturing of Russian models of helicopters (Ka- and Mi- brands). It 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. Elcom Systems is an established entity in the Indian telecommunications, security and navigation sectors.

Cultural Exchange Programme between the Ministry of Culture of India and the Ministry of Culture of the Russian Federation for the Years 2013 - 15 was also signed to enhance bilateral cultural contacts through exchanges in performing arts, films, archives, museums and conservation, literature and language and through organization of reciprocal festivals.

A MoU for joint venture arrangement between Elder Pharmaceuticals Ltd., Mumbai and Pharm Eco of Russia 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. Pharm Eco will have 51% stake in the joint venture while Elder Pharmaceuticals will own 49% in the joint venture company.

Concerned over the ongoing protests in the national capital seeking justice for the 23-year-old gang-rape victim, the government on Monday rescheduled the meeting between Prime Minister Dr. Manmohan Singh and visiting Russian President Vladimir Putin.

Both leaders and delegates met at Prime Minister's official 7, Racecourse Road (RCR) residence here. (ANI)



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