India, Russia ink key pacts: Defence co-production deal, purchase of $14.5 billion worth arms sealed

Vladivostok, Russia, Sep 4: In a major boost to the bilateral ties and strategic partnership, India and Russia on Wednesday inked a ‘solid package of bilateral documents’ on multiple sectors including defence, trade, investment and industrial sector, education and culture.
Prime Minister Narendra Modi and Russian President Vladimir Putin held the 20th Annual Summit here-a day before the Indian leader attends the prestigious Eastern Economic Forum meet as the chief guest.
India and Russia realise the significance of a multi-polar world, Mr Modi said adding – “We are working together on many global forums including BRICS and Shanghai Cooperation Organisation.’
In a similar vein, the Russian president said he had held a one-on-one meeting with Mr Modi and discussed a wide range of issues while travelling on a boat to a new Zvezda shipyard here.
India ordered $14.5 billion worth of Russian weapons and military equipment.
“The last year and this day are marked with a huge order portfolio of $14.5 billion. This is a truly significant figure, this is really a breakthrough,” Sputnik quoted the head of Russian Federal Service of Military-Technical Cooperation Dmitry Shugayev as saying.
He added that the countries had settled all the problems related to defense payments, which had emerged due to sanctions.
India’s content of Russia’s Ka-226 helicopters production may reach 80 percent, while content of Kalashnikov rifles production may reach 100 pc, according to Shugayev.
India is among the top three arms importers from Russia.
Mr Putin told Mr Modi, “We are expecting you in May next year at the celebrations to mark the 75th anniversary of victory in the Great Patriotic War, Victory over Nazism.’