India-Russia Summit 2014 – Highlights

India and Russia on 11 December 2014 signed 20 agreements during the
15th India-Russia Annual Summit held in New Delhi. The agreements were signed
in presence of Prime Minister Narendra Modi and Russia President Vladimir
Putin, who is on the official visit to India.

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    The agreements signed included eight agreements between government
    entities and 12 between private enterprises and covered the fields of nuclear
    energy, oil and gas, health, investment, mining, media and wind power. These
    agreement include Russia’s help in building at least 12 nuclear reactors and a
    plan to manufacture advanced Russian military helicopters and defence spare
    parts in India
  • ·
    During the summit, both the countries also vowed to strengthen the
    special strategic partnership and unveiled Druzhba-Dosti vision statement for
    the next decade.
  • ·
    President Vladimir Putin and Prime Minister Vajpayee launched the annual
    Summit process in 2000. The first summit Prime Minister Vajpayee visited Moscow
    and held the summit.
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    This is President Vladimir Putin’s eleventh Annual Summit and first
    summit of Prime Minister Narendra Modi.





    Highlights of the summit

    • ·
      During the summit, both the countries signed 20 agreements in the fields
      such as nuclear energy, oil and gas, health, investment, mining, media and wind
      power.
    • ·
      Both the countries agreed on the construction of at least 12 new nuclear
      power units within the next 20 years, including two new units at the Kudankulam
      Nuclear Power Plant. Both also countries agreed to find a new site to construct
      a new nuclear plant.
    • ·
      Both the countries agreed to promote bilateral economic, trade and
      investment cooperation, including the idea of exploring the use of national
      currencies in settlements.
    • ·
      Both the countries agreed to consult and coordinate in multilateral
      forums such as G20, East Asia Summit (EAS), BRICS and RIC.  The bilateral program on enhanced cooperation
      in oil and gas sphere underlines the serious commitments of the two counties to
      develop cooperation in energy area of great promise.
    • ·
      Both the countries envisage broader collaboration between hydrocarbon
      companies of the two countries in oil and gas exploration and production as
      well as in LNG projects and supplies.
    • ·
      India reassured Russia that Russia will remain primary defence partner
      of India, though both the countries did not reach a concrete agreement on the
      fifth generation fighter aircraft (FGFA) and a multirole transport aircraft
      (MTA) projects.
    • ·
      Russia expressed that it would look at participating in the Delhi Mumbai
      Industrial Corridor project and will speed up the negotiations for a free trade
      agreement between India and the Eurasian Union.
    • ·
      Russia looks forward to India to become a full member of the Shanghai
      Cooperation Organisation (SCO).
    • ·
      India and Russia supports the evolution of open, balanced and inclusive
      security architecture in the Asia Pacific region based on collective efforts,
      considering legitimate interests of all states of the region and guided by
      respect for norms and principles of international law


    List of Agreements signed



    International Relations

    • ·
      Protocol for consultations between the External Affairs Ministry of both
      the countries for the period 2015-2016: The agreement envisages close
      consultation on as many as 17 issues, ranging from Asia-Pacific to West Asia to
      West Europe to Latin America as also at various multilateral for a like UN,
      G20, BRICS, SCO, RIC.



    Nuclear Energy

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      Strategic vision for strengthening cooperation in peaceful uses of
      atomic energy envisaging a roadmap of bilateral cooperation in the civil
      nuclear energy sector for the next two decades. It contains plans to build over
      20 nuclear power units in India
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      Provisions for the technical data and information non-disclosure in the
      framework of cooperation in the field of peaceful use of nuclear energy to
      provide an impetus to scientific and technological cooperation in the peaceful
      use of nuclear energy
    • ·
      Supplement to the General Framework Agreement (GFA) for Units 3 and 4 of
      Kudankulam Nuclear Power Project between Nuclear Power Corporation of India
      Limited (NPCIL) and ATOMSTROYEXPORT (ASE) to operationlise the General
      Framework Agreement (GFA) and Technical Commercial Offer (TCO) signed in April
      2014
    • ·
      Contract between Nuclear Power Corporation of India Limited (NPCIL) and
      ATOMSTROYEXPORT (ASE) for unit 3 and 4 of Kudankulam Nuclear Power Plant for
      supply of some major equipment by ASE



    Oil and Gas

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      Programme of Cooperation (POC) under Framework of Inter-governmental
      Agreement for Enhancement of Cooperation in Oil & Gas in 2015-16: The
      agreement sets out a concrete programme for cooperation, envisaging projects
      including joint exploration and production of hydrocarbons, long term LNG
      supplies and joint study of a hydrocarbon pipeline system connecting Russia
      with India.
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      MoU between TATA Power and Russian Direct Investment Fund (RDIF) to
      explore investment opportunities in the energy sector across the Russian
      Federation
    • ·
      MoU between Oil India Limite’ and Zarubezhneft to facilitate
      technological association on hydrocarbon projects in India
    • ·
      MoU between ESSAR and ROSNEFT for long-term supply of crude oil
      envisaging ten year supply and purchase by India of crude oil and feed stocks/products



    Economic Sphere

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      MoU on technical cooperation on accreditation: Aims at development of
      accreditation systems, sharing of information, recognition of test reports, and
      creation of conditions for the elimination of technical barriers in trade and
      economic cooperation.
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      MoU between ACRON of Russia and NMDC of India to implement 2 billion US
      dollars potash mine project of ACRON in Russia
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      MoU between Vneshtorgbank (VTB) of Russia and ESSAR Group envisaging
      finance arrangement of 1 billion US dollar to ESSAR by VTB
    • ·
      MoU between Infrastructure Development Finance Corporation Ltd (IDFC)
      and Russian Direct Investment Fund (RDIF) on a co-investment opportunity up to
      1 billion US dollars
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      MoU between FICCI and Delovaya Rossiya to broaden and strengthen economic
      ties and identifying new areas of economic cooperation
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      MoU between Electronics and Software Export promotion Council of India
      (ESEPCI) and Skolkovo Foundation of Russia to enable companies in these sectors
      to enter new markets by means of joint ventures, strategic alliances and in
      joint research and development
    • ·
      MoU between Gamesa Wind Turbine Pvt Ltd. of India and ROTEK of Russia to
      facilitate cooperation between the two companies in wind power equipment
    • ·
      MoU between news agencies PTI and TASS on exchange of news and the right
      to use news items



    Health sector

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      MoU on cooperation in Health Research: Envisages programme of
      cooperation in specific areas of health research such as oncology,
      bioinformatics & bio imaging, neurosciences, new generation vaccine research
      and research in HIV/AIDS.



    Space

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      MoU between EIRENE SYSTEMS and GLONASS Union to contribute to joint
      development and implementation of projects like Navigation Platform and
      Geographical Information System in India

    Defence

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      Agreement for training of Indian defence personnel in the defence
      establishments of the Russia: This will facilitate better understanding between
      the two defence forces.

    This post was last modified on November 27, 2017 9:03 am