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India and Russia concluded a much-awaited pact for setting up the last two units of the Kundankulam nuclear power plant with Moscow's help in Tamil Nadu after overcoming initial hurdles to finalise the strategic deal.
The General Framework Agreement (GFA) and Credit protocol for Units 5 and 6 of the Kudankulam nuclear plant are seen as a major outcome of the annual summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
"We welcome the conclusion of the the General Framework Agreement and Credit protocol for Units 5 and 6 of the Kudankulam Nuclear Power plant," said a vision document issued after the Modi-Putin talks.
Talking at the CEOs forum, PM Modi said that Russia has been by India’s side from time to time, even the business community helps bring both countries closer.
PM Modi invited Russian companies to participate in India's defence sector.
Russia's “trust-based” ties with India will not be diluted by Moscow's growing ties with Pakistan and others, Putin told the media persons after meeting Modi adding that Russia does not have any tight military relations with Pakistan.
There is no other country in the world that Russia has "deep cooperation" in delicate areas such as missiles, he added.
He said that Russia will always support India in its fight against terrorism, no matter where the terror threat comes.
Russia is respectful toward all Indian interests, he said.
After a meeting with Russian President Putin, PM Modi said, “Both Russia and India believe in the benefit and happiness of all.”
President Putin said, “This exists a special nature of trust and friendship in the relations between the two countries and its people.”
Prime Minister Narendra Modi and Russian President Vladimir Putin began their restricted meeting ahead of delegation-level summit.
Modi and Putin held wide-ranging talks on bilateral, regional and international issues of mutual interests, including ways to boost energy and trade ties.
At the beginning of their restricted meeting, Modi told Putin he was happy to be able to visit his hometown as Prime Minister. This is for the first time Indo-Russia summit in Russia was happening outside Moscow in St Petersburg.
"Normally, international relations see ups and downs but history is witness Indo-Russia relations have not seen any ups and downs," the prime minister said and thanked the Russian president for playing crucial role in getting India Shanghai Cooperation Organisation (SCO) membership.
Prime Minister Narendra Modi started the third-leg of his four nation visit, in Russia, by paying homage to the victims of the Siege of Leningrad at Piskaryovskoye Memorial Cemetery in St.Petersberg.
The memorial is the largest in the world, for the victims of World War II with 186 mass graves in the cemetery.
People were waiting outside Prime Minister Narendra Modi’s hotel in Saint Petersburg when he reached there to meet him.
Prime Minister Narendra Modi arrived in St Petersburg from Spain on Wednesday on the third leg of his six-day, four-nation tour of Europe.
PM Modi and Russian President Vladimir Putin will sign a host of agreements, with all eyes on a deal to build with Russia's help the last two units of India's largest nuclear power plant.
With hours to go before the summit, Indian officials said that last-minute talks are taking place to iron out details and language of the agreement on a line of credit for building Unit 5 and 6 of the Kundankulam nuclear power plant in Tamil Nadu. "The agreement remains work in progress," the source said.
The reactors are being built by India's Nuclear Power Corporation of India Ltd (NPCIL) and Russia's Atomstroyexport company, a subsidiary of Rosatom, the regulatory body of the Russian nuclear complex.
The two sides are expected to ink 12 agreements in wide- ranging sectors, including in science and technology, railways, cultural exchanges and other business areas between private parties also, in addition to a "vision statement" that the two leaders will release.
On Thursday, Modi will hold the 18th India-Russia annual bilateral summit with Russian President Vladimir Putin.
The next day, he will attend, for the first time, the St Petersburg International Economic Forum, a business event.
From Russia, Modi will leave for France on the fourth and final leg of his tour and hold his first meeting with newly elected French President Emmanuel Macron in Paris.
Earlier on Wednesday, Modi held talks with his Spanish counterpart Mariano Rajoy in Madrid following which seven agreements in different areas were signed between the two sides.
Germany was the first port of call of Modi's European tour.
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