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Putin, Modi meet in Goa, announce defence, energy deals
October 15, 2016, 9:29 am

Indian Prime Minister Narendra Modi with Russian President Vladimir Putin at a bilateral summit in Goa, India on 15 October 2016 [PPIO]

Indian Prime Minister Narendra Modi with Russian President Vladimir Putin at a bilateral summit in Goa, India on 15 October 2016 [PPIO]

Indian Prime Minister Narendra Modi and Russian President Vladimir Putin held bilateral talks on the sidelines of the BRICS Summit in the western Indian state of Goa on Saturday.

Several deals were announced following the talks.

The two countries will set up a joint venture to build helicopters in India, which will also buy surface-to-air missile systems

India will buy the S-400 Triumf air defence systems from Russia, worth over $5 billion.

The plan is for the joint venture to build at least 200 Kamov helicopters.

India and Russia also announced a deal to pave the way for a group led by Russian oil giant Rosneft to acquire India’s Essar Oil.

The group will acquire Essar Oil in a deal worth $12 billion to $13 billion, including debt, a Reuters report quoted sources as saying.

Modi and Putin will meet their BRICS counterparts for summit talks over the weekend in Goa.

TBP

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