Modi-Putin talks: 12 new n-reactors in India, 20 agreements inked

New Delhi Nuclear energy cooperation between India and Russia got a major boost with both sides Thursday inking a vision document for the construction of 12 Russiabuilt nuclear units in India over the next two decades as Prime Minister Narendra Modi and visiting Russian President Vladimir Putin held summit talks hereThe two sides inked 20 agreements including in the sphere of defence cooperation oil and gas and in trade after the holding of the 15th IndiaRussia annual summitModi reading out a statement after the talks termed Indias strategic partnership with Russia incomparable in contentWhile Modi said that both sides outlined an ambitious vision for nuclear energy of at least 10 more reactors Putin in his address said Russia would set up 20 nuclear units in India and also cooperate in uranium miningThe 12 reactors includes the 1000megawatt Russiabuilt reactor that has begun operations at the Kudankulam nuclear power station in Tamil Nadu and the second unit that is set to come onstream in 2015India inked agreements for units 3 and 4 at KudankulamBesides these two more would come up at Kudankulam Land has to be earmarked for the remaining new six reactors to be built by Russia said sourcesIndia agreed to expeditiously identify a second site in addition to Kudankulam for the construction of the 12 Russiadesigned nuclear power units in India the vision document saidIt was inked by Indias Department of Atomic Energy and Russias state nuclear power corporation RosatomAmong the 20 agreements inked was a formal contract between the Nuclear Power Corporation of India Limited NPCIL and Atomstroyexport Russias nuclear power equipment and service export monopoly for units 3 and 4 at KudankulamThe agreement marks the commencing of the implementation of the two units with supply of some major equipment by the Russian companyIn the field of hydrocarbons too both sides inked agreements for India to scout for oil and gas in the resource rich Arctic ShelfModi said India despite being one of the worlds largest importers of hydrocarbons has not cooperated enough in this sectorToday we have made a new start with a few important agreements But we will set an ambitious agenda for partnership in oil and gas Modi saidPutin said Russian energy behemoths Rosneft and Gazprom would join up with Indian companies to scout for oil and gas in the Arctic ShelfIndias Essar Group inked an agreement with Rosneft for longterm supply of crude oil This envisages a 10year supply and purchase by India of crude oil and feed stocksproductsDefence was another area that saw both sides enhancing cooperationModi said Russia has been Indias foremost defence partner through decades and termed the refitted Russian aircraft carrier INS Vikramaditya as a great symbol of bilateral defence cooperationEven as Indias options have increased today Russia will remain our most important defence partner he saidIndia imports around 70 percent of its defence requirements from Russia but has been looking at other countries including Israel and the US for its weaponryHe said the two sides discussed a broad range of new defence projects and how to align our defence relations to Indias own priorities including Make in IndiaModi said Russia has offered to fully manufacture in India one of its most advanced helicopters with the possibility of exports from IndiaThe helicopter can be used for both military and civilian useModi also proposed that Russia should locate its defence spares and components manufacturing facilities in India and added that Putin had responded very positively to the requestGetting Russian spares for defence equipment purchased earlier has been a major headache for IndiaPutins visit and the agreements with India came as the Russian economy is buffeted by Western sanctions over Ukraine and the rouble has slumped following the slide in oil pricesModi thanked Russia for its support in building closer relations with the Russialed Eurasia Economic Union which includes Belarus Kazakhstan and Armenia and is viewed as a rival to the European UnionThe Eurasian Economic Union is aimed to create a single economic market of 171 million people and a gross domestic product of 3 trillionModi also conveyed his condolences at the loss of lives in a terror attack in Chechnya last weekA DruzhbaDosti joint vision statement was issued that saw both leaders agreeing on a vision for strengthening the IndiaRussia partnership over the next decade and to take ties to a qualitatively new levelBoth leaders jointly inaugurated the World Diamond ConferenceWith Russia being the largest exporter of rough diamonds and India a world leader in the cutting and polishing industry the two sides joined hands for direct trade instead of through a third party