NEW DELHI, India, March 13, (AFP) - Russian Prime Minister Vladimir Putin sealed a visit to India Friday with a raft of multi-billion-dollar arms and energy deals, including the construction of 16 Russian nuclear reactors.
The two countries also signed agreements for the long-awaited sale to India of a refitted Soviet-era aircraft carrier as well as 29 MiG fighter jets, further cementing Moscow's role as New Delhi's principal arms provider.
Energy-hungry India is one of the world's biggest markets for nuclear technology and the reactor deal is a triumph for Russia's state atomic agency Rosatom which faces stiff competition from French and US rivals.
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| Indian Prime Minister Manmohan Singh (R) waves as Russian Prime Minister Vladimir Putin looks on during a meeting in New Delhi on March 12. AFP |
While welcoming the deals, Putin stressed that the two Cold War allies were still short of realising the potential of their partnership, one half of the powerful four-strong group of emerging nations that includes China and Brazil.
"The level of our capabilities has not been reached," he said following talks with Indian Premier Manmohan Singh.
Singh hailed the meeting with Russia -- a "trusted and reliable strategic partner" and a "pillar of our foreign policy" -- and pointed to the "rich and very substantive" agreements signed in nuclear energy, defence, space and other sectors.
The strong ties between Moscow and New Delhi date back to the 1950s after the death of Stalin. But India has in recent years also taken care to balance this friendship by fostering closer relations with Washington.
In a live webcast interaction with Indian businessmen, Putin said it was time for the old Cold War allies to boost trade beyond the limited scope of defence.
At just over 7.5 billion dollars in 2009, bilateral trade turnover is miniscule and the two countries aim to lift it to 20 billion dollars by 2015.
"There is the political will on both sides, but we need support from the captains of industry," Putin said.
"Cooperation in hi-tech is the priority for us," he added. "The Russian government is ready to directly support this activity, with the help of additional financial assistance, if need be."
On security issues, Putin highlighted the presence of militant outfits operating along the Afghanistan-Pakistan border, saying they were cause for concern not just to Russia and India but the entire region.
Putin also reassured that Russia had prioritised its military relations with India over rival Pakistan, with which New Delhi has fought three wars since 1947. |
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