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    Russia - India Strategic Relationship: News

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    George1

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    Re: Russia - India Strategic Relationship: News

    Post  George1 on Sat Dec 20, 2014 3:53 pm

    Russian-Indian Joint Military Projects to Boost Delhi's Defense Industry

    Russia will help India to renew its aging military hardware, providing the country with its most advanced technologies. Russian-Indian joint military projects will help India to bolster its defense industry.

    MOSCOW, December 19 (Sputnik), Ekaterina Blinova – Russia will provide India with its most advanced weapons and technologies in order to renew Delhi's aging military hardware; since the countries have launched joint military projects, India has obtained new opportunities on the weapons market.

    "Russia wants early inking of the final R&D contract for the joint fifth-generation fighter (FGFA) project, in which India will invest $5.5 billion to develop a stealth fighter. India will spend around $25 billion on 127 such fighters, to be built domestically, in the FGFA project," the Times of India reported.

    India will also assemble 400 Russian Ka-226T helicopters a year. The deal is important to India, since the country needs to upgrade its aging military hardware.

    "I am pleased that Russia has offered to fully manufacture in India one of its most advanced helicopters. It includes the possibility of exports from India. It can be used for both military and civilian use. We will follow up on this quickly," Indian Prime Minister Narendra Modi said in an official statement as quoted by Defense News.

    Russia is also ready to provide India with its Akula-II class nuclear-powered submarines, which will bolster India's capability to maintain control over its territorial waters in the Indian Ocean amid growing geopolitical tensions in the region.

    Bloomberg notes that India acquired its first nuclear submarine costing $1 billion from Russia in 2012. Delhi is intended to renew its old diesel-power fleet of submarines, since "half of them were commissioned in the 1980s."

    It should be noted that India has always been one the biggest Russia's defense customer. The Times of India points out that Russian-Indian arms deals included "refit of aircraft carrier Admiral Gorshkov or INS Vikra maditya ($2.33 billion), six Talwar-class stealth frigates (almost $2 billion), 272 almost $2 billion), 272 Sukhois (project cost over $12 billion), 45 MiG-29Ks ($2 billion), 139 Mi-17 V5s helicopters (over $2 billion)."

    "Russia will remain our most important defense partner," Prime Minister Narendra Modi underscored during his meeting with Vladimir Putin earlier this month, pledging to deepen the defense cooperation.
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    Sujoy

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    Re: Russia - India Strategic Relationship: News

    Post  Sujoy on Wed Dec 24, 2014 3:46 pm

    INDIA TO CONSTRUCT PHARMACEUTICAL PLANT IN CRIMEA


    The Crimean administration has been conducting negotiations with the Indian investors on the construction of a pharmaceutical plant in Crimea, Head of the Crimean administration Sergey Aksyonov told a news conference on Tuesday which summed up the results achieved in the outgoing year.

    "We have reached an agreement with the Indian side that we will jointly build a pharmaceutical plant. After a memorandum on the project was signed a delegation from India decided to visit Crimea," Aksyonov said. "We insist that we should produce medicines ourselves, rather than import them from elsewhere," he said.

    A preliminary agreement on the construction of a pharmaceutical plant in Crimea was reached during a recent visit of a Crimean delegation to India. "The negotiations will be continued during a visit of the Indian delegation to Crimea due soon," Aksyonov said.

    "A Memorandum of understanding with the organization of Indian-Crimean Partnership was signed during a recent visit by the head of the Crimean administration to India; during the visit an agreement was reached that a group of Indian businessmen and journalists would visit Crimea in the near future," Russia's presidential envoy to Crimea Georgy Mamedov told TASS earlier. "Crimea as a member of the Russian Federation has been looking for partners for the realization of investment projects on its territory, exchange of opinions and creation of a convenient business environment," the presidential envoy said then.

    http://itar-tass.com/en/russia/768802

    Austin

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    Re: Russia - India Strategic Relationship: News

    Post  Austin on Fri Dec 26, 2014 7:43 am

    Like days of yore

    The 2014 India-Russia summit in New Delhi yields a raft of substantive agreements between the two countries. By JOHN CHERIAN

    RUSSIAN President Vladimir Putin was in New Delhi in the second week of December to participate in the India-Russia summit. The summit, held alternatively in the Indian and Russian capitals, has become an annual event since 2000. President Putin and Prime Minister Atal Bihari Vajpayee signed the historic Declaration on Strategic Partnership that year. Though Putin was in the Indian capital for only a day, the 2014 summit has yielded a raft of substantive agreements. The Russian Ambassador to India, Alexander Kadakin, said Russia-India summits need not be preceded by protocol or long discussions as their friendship was tried and tested. He particularly welcomed India’s support for “multipolarity” in international affairs.

    The summit was held against the background of rising tensions between Moscow and Washington over Ukraine and the imposition of tough sanctions on Russia by the United States and some of its Western allies. At the G20 summit in November, there was an orchestrated attempt by the West to isolate Russia. Some European leaders talked openly about the possibility of a new war with Russia. After the events in Ukraine, a new nuclear arms race seems to be on the verge of being started. Both Russia and the U.S. have increased their testing of new missiles.

    In view of the open hostility exhibited by the West, Moscow has pivoted its attention to the East. In recent months, Russia has signed huge energy deals with countries such as China and Turkey. The energy deals worth around $800 billion with China will see 30 billion cubic metres of Russian gas being sold annually to that country.

    During a visit to Turkey in the first week of December, Putin announced the cancellation of the “South Stream” gas pipeline project that would have supplied Russian gas to southern Europe. Instead, Russia has signed a groundbreaking deal with Turkey under which Russian gas will now be routed through Turkey to the European and Asian markets, sidestepping the European Union (E.U.). Important E.U. nations such as Germany and Italy are dependent on gas from Russia to keep their economies ticking.

    “We will reroute the flow of our energy resources to other regions in the world, including through the promotion and accelerated implementation of projects for liquefied natural gas,” Putin said in a recent speech to the Russian Parliament. Turkey, like India, has rejected American and European sanctions on Russia over the Ukraine issue.

    Energy sales by Russia to China and Turkey will be much below the current market prices. Southern Europe, on the other hand, will have to pay 30 per cent more to source its gas from other sources after the surprise announcement of the cancellation of the South Stream project. Turkey’s coming on board also means that the Turkish government has now started looking East for political and economic succour. Turkey is a member of the North Atlantic Treaty Organisation (NATO) and has been waiting in line for decades to become a full-fledged E.U. member.

    ‘Reliable partner’


    Putin, from all available indications, seems to have got an assurance from the new Indian government that it will not side with the West on the Ukraine issue and its policy of imposing unilateral sanctions on countries. Prime Minister Narendra Modi assured the Russian President in New Delhi that India would continue to be a “time tested and reliable partner” of Russia. He recalled the “steadfast support of the Russian people” during the “difficult moments” of the country’s history. He reiterated India’s commitment to stand by Russia “through its own challenges”.

    The joint vision document released during the Putin visit stated that both countries did not recognise the unilateral economic sanctions imposed on Russia by some countries without the approval of the United Nations. New Delhi did not object to the presence of the Crimean Prime Minister, Sergey Aksyonov, in the Russian President’s delegation. Putin has thanked the Indian government for supporting Russia’s “legitimate” claim to the Crimean peninsula.

    Defence deals

    To further gladden Russian hearts, Modi pledged that Russia would continue to remain the country’s most important defence partner even if “India’s options have increased”. Russia was not too happy with the huge defence orders India had placed in recent years with the U.S., France and Israel. Russian officials feel that they were not given a level playing field. America is fast closing the gap with Russia in the supply of military hardware to India. Israel and France also bagged big defence deals during the 10-year rule of the United Progressive Alliance.

    Michael Kugelman, who specialises on South Asia at the Woodrow Wilson Centre in the U.S., told The Washington Post that Modi was expected to indulge in “pro-Russian rhetoric” during the Putin visit. He, however, predicted that with President Barack Obama’s visit to New Delhi due in January, the rhetoric “will give him cover to quietly intensify relations with Washington”.

    Speaking to the media just ahead of Putin’s visit, the Russian Ambassador said that Russia was the first country to implement a “make in India” policy in the field of defence production. He said that today even the SU-30s, the backbone of the Indian Air Force, were “made in India”. The Russian side has agreed to produce Mi-17 medium lift and Ka-226 light utility helicopters in India in partnership with an Indian firm.

    Russia has indicated that it would like to locate other aerospace projects too in India. Russia has offered to produce civilian passenger planes. The two sides have agreed to move ahead on the long-delayed projects to jointly develop a fifth-generation fighter jet and a multi-role transport aircraft. Russian officials said that India’s “Act East” policy would open newer vistas for cooperation between the two countries. Russia considers itself a Eurasian country. Much of its land mass is in Asia.

    Before Putin’s visit, the Indian side had signalled its displeasure on the Russian government’s willingness to sell military hardware to Pakistan. Russian Defence Minister Sergei Shoigu was in Islamabad in November. This was the first-ever visit by a Russian Defence Minister to the country to sign a military cooperation agreement. The Russian Ambassador to India has claimed that no firm deal has been struck with Pakistan for the sale of military helicopters.

    Until recently, Russia, in deference to the wishes of its close strategic ally India, had abstained from selling arms to Pakistan. But with India sidelining Russia and going in for multibillion dollar deals with the West and Israel, there evidently has been a rethink in Moscow. The U.S. is the biggest supplier of military aid and weaponry to Pakistan, but New Delhi has no problems doing military deals with Washington. “What is wrong in selling helicopters to Pakistan which India does not want to buy?” Kadakin said. He was speaking a day before the arrival of the Russian President. The Russian Ambassador said that his country would never do anything “detrimental” to the security interests of India. “Improving relations with Pakistan is a separate issue,” he said.

    Russia evidently feels that Pakistan will be playing a key role in Afghanistan in the coming years. “We have a stake in Afghanistan,” Kadakin said, indirectly emphasising the role Pakistan was likely to play in the fast-changing political and military scenario in Afghanistan. The joint statement released in Islamabad during the Russian Defence Minister’s visit stated that it had “come at a very crucial juncture when U.S.-NATO forces are drawing down from Afghanistan by the end of 2014”. The statement said that apart from “promoting bilateral defence relations, the visit will enable both countries to join hands and bring peace and stability to the region”.

    From the Indian point of view, the most important takeaway from the Putin visit was the announcement that Russia would be constructing an additional 12 new nuclear reactors in the country by 2035. Russia will start by building two more nuclear reactors in Kudankulam, Tamil Nadu, by 2016. This is in addition to the two reactors that are expected to go on stream very soon.

    The Russian side, in fact, was ready to build up to 24 nuclear reactors in India, but the Indian side wants to keep the lucrative contracts for nuclear reactors to be shared by some of its other “strategic partners” like the U.S., France and Japan. But unlike these three countries, Russia has not made much of a fuss about India’s “nuclear liability law” though the Russians too would like the law to be either scrapped or diluted. The Bharatiya Janata Party government seems to have sent some strong signals to nuclear-supplier countries that such a move is in the offing.

    Another key agreement inked during Putin’s visit was the $2.1 billion deal to directly source raw diamonds from Russia. India is the biggest manufacturer of cut and polished diamonds. Gujarat is the centre of India’s diamond industry and the businessmen in the State will be the major gainers from the deal.

    Chinese President Xi Jinping, during his visit to India, also chose Gujarat for favourable treatment. Many Chinese industries have announced that they would set up shop in the Prime Minister’s home State. India currently sources most of the diamonds from Dubai and the West.

    There were no hydrocarbon deals on the scale which Russia has signed with China and Turkey during Putin’s visit. Geographical distance is, of course, a factor, though the Russians are looking at the feasibility of extending one of their gas pipelines in China to India. Before his India visit, Putin had observed that shipping liquefied natural gas (LNG) from Russia would be cheaper than constructing a pipeline to carry gas to India.

    A more modest agreement between India’s Essar and Russia’s Rosneft was signed for the long-term supply of 10 million tonnes of crude oil at a concessional rate. Negotiations are on for oil and gas exploration projects by the Oil and Natural Gas Corporation (ONGC) in the Arctic region and East Siberia. More than 60 per cent of India’s oil imports are sourced from West Asia. The quantity imported from Russia is less than 1 per cent. There is a need for India to diversify its sources as the demand for energy rises domestically.

    Both sides agreed on the urgency to boost bilateral trade, which languishes at a paltry $10 billion annually. To boost trade and investment, the Russian side has liberalised visa rules for Indian businessmen and professionals. To facilitate investment growth, the two countries are working out modalities for rupee-rouble trade. The BRICS (Brazil, Russia, India, China and South Africa) countries have agreed in principle to bypass the U.S. dollar and trade mainly in their own currencies.

    The next important visitor to New Delhi will be the U.S. President. The Indian Prime Minister’s rhetoric will be under intense scrutiny as he tries a diplomatic balancing act between Washington and Moscow. India may be having a “special and privileged partnership” with Russia, but it also has a “broad strategic and global partnership” with the U.S. The U.S. is also “a principal partner in the realisation of India’s rise”.
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    George1

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    Re: Russia - India Strategic Relationship: News

    Post  George1 on Tue Jan 06, 2015 12:03 am

    Russian, Indian scientists to develop project for chemicals and fuel production
    Economy
    January 05, 10:46 UTC+3

    NEW DELHI, January 5. /TASS/. Russian and Indian scientists will team up to develop within a 3-year period a project for a bio-refinery for chemicals and fuel production from biomass and to meet the dwindling reserves of crude oil supplies, representatives of the Institute of Catalysis, Siberian Branch of the Russian Academy of Sciences (RAS), Novosibirsk, Russia, and India’s Tamil Nadu Agricultural University (TNAU) said on Monday at a joint news conference in Coimbatore (south of India).

    The Russian Ministry of Science and Education and Indian Ministry for Science and Technology act as co-investors of the unique project of an oil refinery that uses for processing not oil, but cellulose fibre. Of the total investment volume of 37 million rupees (some $600,000) planned for the next 3 years Russia will account for 30 million rupees ($490,000) and India - for 7 million rupees ($110,000).

    This joint project aims at the development of scientific bases of an integrated, highly sustainable and energy efficient bio-refinery for the local lignocellulosic (crops/wood) feedstocks. TNAU Rector Dr. K. Ramasamy said increased concern over security of oil supply and the negative impact of fossil fuels on the environment, particularly greenhouse gas emissions, has put pressure on the society to find renewable fuel alternatives.

    “India, being a tropical country, receives more than 12 hours of intense sunlight per day, which allows its nature to generate a huge amount of biomass,” Dr. K. Ramasamy said. “This cheap raw material can be successfully used for the production of chemical ingredients and fuel for transport vehicle, and we hope to successfully fulfil this task with the help of Russian colleagues in the near future.”

    Representative of the RAS Siberian Branch Institute of Catalysis, Doctor of Chemistry Oksana Taran for her part said that “harmonious work of two countries’ team of specialists will not only make it possible to extract wealth from waste, but also to develop innovative technologies that can highly enrich the Russian and Indian economies.”

    The further bilateral scientific exchanges will help the two sides to develop some innovative technologies for getting fuels and chemicals form biomass, they said.
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    George1

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    Re: Russia - India Strategic Relationship: News

    Post  George1 on Sat Jan 24, 2015 7:12 pm

    Indian STC Interested in Long-Term Contracts for Russian Goods, Envoy Says

    India says that the Indian State Trading Corporation is interested in long-term supplies of Russian goods.

    NEW DELHI, January 23 (Sputnik) – The Indian State Trading Corporation (STC) is interested in long-term supplies of Russian goods, Yaroslav Tarasyuk, Russia's trade representative in India told RIA Novosti Friday.

    "We had a meeting with representatives of [the Indian] State Trading Corporation recently, which is also exploring the possibility of long-term contracts for the supply of goods from Russia," the envoy said.

    Envoy Says Russian, Indian Companies Discussing Meat Supply Amid Moscow's Food Embargo
    In December 2014, Russian oil giant Rosneft and India's largest oil manufacturing company Essar signed a 10-year contract to deliver 10 million tons of oil annually to India.

    The Indian-based STC has been engaged in international trade for over 50 years. Until the 1990s, the company mainly traded agricultural commodities, such as rice, wheat, castor oil and sugar. In recent years, the company has expanded its area of interest. Currently, the STC also trades hydrocarbons, fertilizers, petrochemicals and metals.
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    George1

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    Re: Russia - India Strategic Relationship: News

    Post  George1 on Mon May 11, 2015 2:21 pm

    Cultural Exchange Important for Russia-India Partnership – Indian President
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    Re: Russia - India Strategic Relationship: News

    Post  George1 on Fri May 15, 2015 9:00 pm

    Rosatom Confirm Work at India's Kudankulam Nuclear Energy Plant On Schedule

    Rosatom Deputy Director Alexander Lokshin said that second energy block of India’s Kudankulam Nuclear Power Plant will go on line this summer.

    YELABUGA (Sputnik) – The second energy block of India’s Kudankulam Nuclear Power Plant will go on line this summer, Rosatom Deputy Director Alexander Lokshin said Friday.

    “The second block [will go on line] this year, but doesn’t just depend on us, it also depends on the Indians, but as far as I know, this will be according to the current plans,” Lukshin told journalists in the city of Yelabuga in Russia’s Republic of Tatarstan.

    The Kudankulam NPP’s first block went on line at the end of 2014 and is the most powerful nuclear energy facility in India and is being constructed under Russian technical assistance.

    “We’re not conducting the construction [of the power plant], the Indians are so they’ll define the schedule, but it will be this year for certain,” Lokshin added.

    Read more: http://sputniknews.com/business/20150515/1022179913.html#ixzz3aEe32tBr
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    George1

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    Re: Russia - India Strategic Relationship: News

    Post  George1 on Wed Jul 08, 2015 6:25 pm

    Moscow, Delhi Agree to Deliver 10 Mln Tons of Oil to India Annually

    Austin

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    Re: Russia - India Strategic Relationship: News

    Post  Austin on Wed Jul 15, 2015 1:17 pm

    This is amazing , Rosneft comes to India with a bang , hope to see more such deals with Indian companies

    Rosneft Makes Bold Move In India, Secures Asian Market Position

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    Re: Russia - India Strategic Relationship: News

    Post  Austin on Wed Jul 15, 2015 1:35 pm

    Rosneft eyes Indian solar power market

    The move is as much a sign of Rosneft’s interest in the Indian market as it is the potential of solar energy in the country


    “Representatives from Rosneft have met the Indian government officials. They want to set up a capacity ranging between 10,000MW (megawatts) to 20,000MW,” said a government official who spoke on condition of anonymity. At an investment of around Rs.6 crore per MW, a 10,000MW capacity will entail an investment of around Rs.60,000 crore.


    Russian energy companies are looking at new investment avenues in the aftermath of the collapse of international crude prices and also to work around the economic sanctions imposed on the country by the US and the European Union. At the same time, India is seeking to expand its energy mix by encouraging more investment in green power.

    Rosneft’s interest also stems from India’s plans to install 100,000MW of solar power capacity by 2022. India needs as much as $200 billion to meet its target and the government aims to provide green power at less than Rs.4.50 a unit.

    This initiative comes in the backdrop of news that the Essar Group plans to sell as much as 49% of Essar Oil Ltd to Russia’s OAO Rosneft, in which the largest shareholder (with a 69.5% stake) is the Russian government.

    Rosneft’s businesses include hydrocarbon exploration and production, upstream offshore projects, refining, and crude oil, gas and product marketing in Russia and abroad.India on its part has been trying to secure energy resources in Russia by leveraging its historical association with the country. Indian investments in Russia, mainly in the hydrocarbon sector, total around $4.25 billion.

    Queries emailed to a Rosneft spokesperson remained unanswered till press time; an Essar Group spokesperson said in an email that the group is “not privy to any such plans of Rosneft”.

    Rosneft’s move also reflects happenings in the oil and gas market, a former bureaucrat said.

    A petrogas giant coming to India in the renewable energy sector could well point to a certain nervousness in the petroleum sector in respect of price stability. Investment in India at this point of time also indicates that other international markets are not very attractive investment destinations,” said Anil Razdan, India’s former power secretary.

    Crude oil prices in the Indian energy basket averaged at $61.75 per barrel in June, as against $84.16, $105.52, $107.97 and $111.89 in 2014-15, 2013-14, 2012-13 and 2011-12, respectively.

    Razdan also warned about the poor finance health of India’s state electricity boards that buy power from generators and which could derail any investment in green power generation.

    “For sustaining this kind of investment in the renewable energy sector, the Indian power sector will have to ensure that the distress in the distribution segment is eliminated at the earliest,” he said.

    State electricity boards are laden with debt of Rs.3.04 trillion and losses of Rs.2.52 trillion.

    There has been a growing interest from overseas investors in the Indian renewable energy space. SoftBank Corp., along with Bharti Enterprises Ltd and Taiwan’s Foxconn Technology, in June proposed to invest at least $20 billion in solar energy projects in India through a joint venture, SBG Cleantech Ltd. US-based First Solar Inc. and China’s Trina Solar are among firms that are considering plans to set up manufacturing facilities in India.

    US-based SunEdison Inc. had also said it plans to establish a joint venture with Adani Enterprises Ltd to build a solar photovoltaic manufacturing facility in India with an investment of around $4 billion.

    The Narendra Modi-led government has pushed renewable energy to the top of its energy security agenda, seeking to minimize India’s dependence on coal-fuelled electricity. Renewable energy accounts for only 35,777MW of India’s total power generation capacity of 272,503MW.
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    Re: Russia - India Strategic Relationship: News

    Post  max steel on Wed Jul 15, 2015 2:23 pm

    It is a bit skeptical because Indian solar market is very compt.

    US is already forcing Indian govt to let its solar industries sell cheap sells to India mainly dumping. Unlike usa india has poor dumping laws . And India focus is to use domestically manufactured cells only ie giving a boost to domestic producers and avoiding them from bankruptcy . Latest india mentioned they will use domestic cells only majorly . I guess chinese were also dumping solar equpmnts in india not sure though but yhey are doing it with steel .


    So what exactly Rosneft is expecting from indian solar markets . Doubtful .
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    George1

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    Re: Russia - India Strategic Relationship: News

    Post  George1 on Fri Aug 21, 2015 1:55 am

    India-Russia TV Agreement Has Potential Audience of 700 Mln

    Austin

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    Re: Russia - India Strategic Relationship: News

    Post  Austin on Thu Aug 27, 2015 4:45 pm

    Help Russia during testing time of sanctions, Rostec appeals to Modi government
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    Pinto

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    Re: Russia - India Strategic Relationship: News

    Post  Pinto on Thu Aug 27, 2015 5:11 pm

    Time has come for India to show her gratitude to the Russia and its people by standing with its time tested friend.

    India has made some positive moves by joining SCO, BRICS and also on Crimea issue thumbsup. BUT MORE NEEDS TO BE DONE to make our relations with Russia truly exclusive
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    Re: Russia - India Strategic Relationship: News

    Post  GarryB on Fri Aug 28, 2015 10:50 am

    India has already done a lot for Russia over the last few decades, they don't need to prove themselves good allies and vice versa.

    Russia and India don't need an exclusive relationship... they do need to be wary about outside forces trying to drive a wedge between them however.
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    Re: Russia - India Strategic Relationship: News

    Post  higurashihougi on Fri Aug 28, 2015 11:38 am

    Actually Russia-India military relationship just has been warmed recently. Because in the Korean War, India chose the side of South Korea against North Korea and that made Russia feel uneasy. Although shortly after than India began to lean more and more towards Russia, Russia still felt skeptical.

    That is the reason why Russian weapons only found it way into Indian market recently. First is some amount of MiG-21/23. Then some T-72. Then after 1991 Russia began to sell AK 7,62mm, T-72, Su-30MKI, etc etc.

    In short, just only until the late period of XX century India began to rapidly replace their Western weapons with Russian weapons. However, it is clear that Russian weapons is dominating and will dominate Indian market for sure.

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    Re: Russia - India Strategic Relationship: News

    Post  Austin on Tue Sep 01, 2015 10:55 am

    Russia still has a role
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    Pinto

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    Is Russia shifting focus from China to India for its oil barrels ?

    Post  Pinto on Mon Sep 14, 2015 8:46 am

    With China's economy on the backburner, and its oil fields on the US sanctions list, Russia is all set to sell its oil to India, a Business Insider report has said.

    The decision got the breath of life in December 2014 when Prime MinisterNarendra Modi met with Russian President Vladamir Putin with oil, hydrocarbons, nuclear energy and defence sectors in focus, soon translated into a bilateral trade agreement with a target of $30 billion by 2025, and oil deals from Russia with Indian oil suppliers.

    At the December summit, India-Russia's bilateral trade was pegged at a target of $30 billion by 2025. The CII had said that it was convinced that the two countries will be able to achieve the target.


    “The Druzhba-Dosti joint statement of President Putin and Prime Minister Modi in December 2014 sets the stage for expansion of the bilateral economic engagement in many dimensions, including trade, investment, defence, and energy," President CII Sumit Mazumder said.

    According to the Business Insider report, China's deals with Russia have often met with dead-ends, and with the world's second largest economy's growth slowing, trade between the two countries has fallen.

    According to the report, China and Russia had made a gas deal in May 2014, which included the construction of two pipelines to transport Russia’s gas to China. The deal was suspended in July, leaving Russia in the lurch.

    China's stock market rout and slowing growth has every huge investor on the sidelines, trying to take stock of the situation.

    The report states that Russia's exports to China were down 20% compared to last year, whlie only China only invested under $1.6 billion into Russia in 2014 while Russia invested a whopping $151.5 billion during the same year into the Chinese economy.

    Russia's Rosneft buys nearly 50% in Essar Oil


    On July 9, Russia's Rosneft signed a deal to buy 50% stake in Essar Oil for for about $3.2 billion after excluding the Mumbai-based firm's flourishing coal-bed methane (CBM) business.

    Last year, Rosneft had signed an initial deal to supply 10 million tonnes a year or 200,000 barrels per day (bpd) of oil to Essar Group over 10-years.

    Rosneft, the world's top listed oil producer, will get a hold in India's second biggest oil refinery as well as its 1,600 petrol pumps that will more than triple to 5,000 in two years.


    According to the deal, the Russian firm will also supply 10 million tonnes a year of crude to Essar Oil's 20 million tonnes per annum Vadinar refinery in Gujarat for 10 years.

    "Rosneft and Essar Oil & Gas Ltd/ Essar Energy Holdings Ltd, companies incorporated and managed under the laws of Mauritius, have signed a non-binding Term Sheet with regard to Rosneft's participation in the equity capital of Essar Oil Ltd with a share of up to 49%," Essar Oil said in a statement.

    On the back of the deal, Essar is likely to cut imports from Iran to accommodate Russian barrels. Essar currently depends heavily on Iran to feed its Vadinar refinery, importing about one-fourth of its oil needs from the Persian Gulf nation.

    Rosneft in a statement said the crude supply agreement enables it to expand market outlet and amplifies the volume of supplies to the region, where growing points of the world's economy are concentrated.

    Apart from this, Rosneft has also sold 15% of its second biggest oil field of Vankor to ONGC for nearly 8,390.36 crore, making it the fourth largest acquisition for the for the state-owned company. The field, which has recoverable reserves of 2.5 billion barrels, will give OVL 3.3 million tonnes per annum of oil production.

    Given that China's growth is slowing, and India's GDP is slated to grow at a faster pace, in percentage terms, according to the IMF and World Bank, Russia might just be shifting its focus to the sub-continent to keep its investment safe.

    http://www.dnaindia.com/money/report-is-russia-shifting-focus-from-china-to-india-for-its-oil-barrels-2125053

    Austin

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    Re: Russia - India Strategic Relationship: News

    Post  Austin on Wed Oct 14, 2015 1:50 pm

    PAK-FA is an Evolving Aircraft. Right Now, work is Underway to Build a Prototype That Both Russia and India Wants

    Ambassador of India to the Russian Federation, P.S. Raghavan

    http://forceindia.net/Interview_PSRaghavan.aspx ( FORCE Magazine OCTOBER )

    There is a sentiment that the India-Russia relationship does not have the same momentum that it did in the past. How real is this feeling?

    This may be the sense of one segment within Russia. It is neither widespread nor true. If ever there was a dip in the relationship it was in the Nineties. However, by the beginning of the decade of 2000, the relationship picked up. President Vladimir Putin had expressed a public desire for strengthening the ties and we had responded equally enthusiastically. The sense that you are talking about has come up in the last four or five years; particularly in the defence sector. Because there were a number of projects that were announced or discussed but were seen by some as not making sufficient headway. Hence, it appeared that there was some sort of cooling off, but this is more a matter of perception than reality. Moreover, these things are episodic. Every time India buys something from the United States, it is magnified several times and there is disappointment in some circles in Russia.

    Yet, if you look at our defence purchases, and the dependence our armed forces have on Russian platforms, it will be a long, long time before the relationship is affected and our dependence on Russia as the basic supplier of defence equipment is reduced.

    The specific complaint that the Russian industry has is that India has started to buy equipment through Foreign Military Sale (FMS) route from the United States, whereas Russian companies have to compete ?


    It is the government’s decision to diversify defence purchases to some extent. As our Prime Minister said, we have options and we are availing those options; however, even as we avail those options, Russia will remain our biggest defence partner. We cannot stop acquiring from other countries and Russia does not have a problem with that. As long as we remain committed to the programmes we have charted out with Russia, we can move forward in a purposeful manner.

    So there is nothing wrong in our relationship with Russia at a macro level?


    There is nothing wrong in our bilateral relationship at the fundamental level. Yes, there was occasionally a sense of drift in recent years, but then things are changing. Our new government is also committed to strengthening the Russia relationship. In the joint press conference with President Putin last year, Prime Minister Narendra Modi said that while we may have choices, Russia will remain our primary defence partner. He added that Russia has stood with us in our times of need. The instructions given to us are that we have to take forward the bilateral relationship with great vigour. There is disappointment in some quarters because certain programmes are not moving as quickly as the Russians would want them to. But actually if one sees carefully then a lot of things are happening.

    What are these things?


    At the same press conference last year, Prime Minister announced joint manufacture of helicopters in India. This is a new project to manufacture Kamov 226T. Now we are moving ahead on this programme. We have asked the Russians to come to India with a business plan, complete with timelines and technical specifications. We met up with the Russian Helicopters here at this show also. We are going to start the technical discussion very soon as to how the joint manufacturing would happen. The aircraft is well-known to us; it had also undergone trials in India earlier.

    In terms of Make in India, how will the production happen? Will it be in partnership with a private sector or public sector company?

    The Make in India model envisages that the foreign original equipment manufacturer (OEM) form a joint venture (JV) with an Indian partner. This joint venture company then becomes the manufacturer of the aircraft and will negotiate the contract with the government. There are certain conditions which the government of India has laid down, which will have to be met by this JV. These pertain to technical specifications, indigenisation, timelines, transfer of technology etc. Once these are negotiated, a business plan for production can be finalised. A government to government agreement will also be signed for the realisation of the programme.

    The OEM is free to choose its partner. It could be anyone, a private sector or a public sector company. It could even be Hindustan Aeronautics Ltd (HAL) if the OEM so decides. Since the helicopters will be made in India by the JV, there is no specific offset obligation. However, the concept of offsets would come in through technologies transferred, IPR transfer and through our ability to then export the aircraft.
    It is possible that initially some helicopters may come in the form of completely knocked down (CKD) or semi knocked down (SKD) condition because we may want to induct some quickly. It is also possible that they may not be able to transfer some technology because it may not be theirs to begin with. But within these limitations, the idea of Make in India is that we have to maximise technology transfer.

    How will this be different from the current programme of Su-30MKI where HAL is manufacturing the aircraft in India on Transfer of Technology (ToT)?


    That is not Make in India in the same way. That is licensed production. HAL is assembling the fighters under licensed production from Russia. There is a certain element of ToT, but it is not large. What we are talking about is a bigger ToT to be determined by negotiations. The components would be eventually manufactured in India as well as the aircraft. There will be genuine ToT and transfer of IPR. Moreover, we will be able to export as well.

    What is holding up the Fifth Generation Fighter Aircraft (FGFA) programme?


    There was a lack of progress in the last few months, but we believe that we have now resolved several technical issues that were pending. Both the Indian Air Force (IAF) and HAL have had discussions with the Russians on issues that were hanging fire.

    But given that the Russian FGFA has already been flying for the last few years, where does India’s role in joint development fit in? Won’t we be buying a ready aircraft?


    It was always the case that there was a Russian aircraft on which work was proceeding to develop stealth features. You saw a version of this being demonstrated at the MAKS Air Show. Basically, FGFA will be an aircraft with advanced stealth capabilities. When it was first envisaged, it was decided that we would work on progressively adding stealth features to an existing basic aircraft model until it reaches the required technical capabilities. This is why even today, even with the aircraft flying, it is work in progress. Our objective is to develop an aircraft with agreed technical parameters.

    Will it be fair to say that like Su-30MKI, we will ask the Russians to incorporate Indian specifications, including indigenous elements, in the FGFA for the IAF, given that the Russians seem to have frozen the design of the fighter?


    It is not correct to say that the design has been frozen. PAK-FA is an evolving aircraft. Right now, work is underway to build a prototype that both Russia and India wants. There was a preliminary design phase whose objective was to deliver the first prototype for the work to begin. That phase is over. Now we are negotiating on the final design phase where the prototype would be frozen. Once this is done, we will enter the production phase, when issues of weaponisation would be discussed and finalised.

    Given this when can we expect the agreement to be signed?


    I can’t answer this. Both the IAF and HAL are currently engaged in technical discussions with the Russians. Signing of the agreement will depend upon the pace of the negotiations.

    What is the update on Medium Transport Aircraft?

    It is at a similar stage at the moment. We are going through technical and price negotiations. We need to reach a product that meets our technical requirements at a price which is viable over its life cycle.

    Does it mean that we may decide not to go ahead with the programme?


    We have a joint venture and we are continuing our discussions. As long as both are in place, there is no reason to believe that we will not go ahead with the programme.

    What is our position on the Russian overtures, including sale of defence equipment, to Pakistan? It seems that the two are keen on building a defence relationship, given the high profile visits by military and political leaders on both side.


    We have been hearing about the sale of some defence equipment by Russia to Pakistan for the last year and a half, and other interactions as you mention. But, rather than comment on Russia’s relationship with Pakistan, I would say that India-Russia defence ties are at a level of intensity and trust that pre-supposes a clear understanding of mutual security concerns. For India, this means we would not like to see any present or potential adversary armed with defence equipment that could impact on our security. I believe Russia is sensitive to this concern of ours and we have seen official Russian statements to this effect.

    The second point here is that, whenever we buy anything from Russia we would like to make sure, one, that it is better than what is available to us from anywhere in the world; and two, that the same technology and performance levels of the equipment are not being made available to others.

    I reiterate the point that volume of our defence contracts with Russia, whether it is direct purchase or co-development, is huge. We are Russia’s number one defence customer. Even if we try, it will take longer than a generation to move away from Russian defence equipment. But we are not trying to veer away from Russia. All these new projects are getting us further engaged with Russia. Defence projects also have a gestation period. They can’t have the same level of turnover continuously. If you recall, from 2012 to 2014, so many Russian platforms were inducted into our army, air force and navy. Obviously, there follows a period of relative lull when new projects are being discussed and perhaps don’t move at the pace one would like them to.

    What progress have we made with Russia on Glonass?


    Glonass has multiple applications and Russia is very keen to develop those applications in India. They are already in touch with a number of private players to roll out these applications. As far as I know, they want to talk with Antrix Corporation about manufacturing their receivers in India. These will be multi-system receivers, which will be able to receive Glonass and IRNSS signals.

    Will they allow us to have military resolution on Glonass?


    That is a matter of negotiation.

    Till a few years ago, one heard a lot about Indian investments in Sakhalin, but it seems to have quietened now. What is the update on the energy sector?


    Sakhalin-I has been ONGC’s most profitable investment abroad. But ONGC also invested in Imperial Energy’s oilfields in Tomsk about six-seven years ago, and this is where it has been having problems. The geological conditions have made it difficult to viably extract oil here. It’s a phenomenon called tight oil. This raised questions about the viability of the project. Now they are developing some new technologies to overcome that. This may have somewhat slowed Indian investments in Russia’s energy sector.

    But now the situation is looking up once again and India has come back with vigour to invest in hydrocarbons. Prime Minister Modi told President Putin in December last year that since India is an energy-hungry country and Russia is an energy-surplus one, we need to have a strategic vision for cooperation in hydrocarbons. ONGC is currently negotiating some investment projects in Siberia. A lot is happening in other areas too. Essar Group has signed a long term agreement for purchase of oil. Rosneft has picked up 49 per cent shares in an Essar refinery in Gujarat. GAIL has an agreement to lift LNG from Russia. In addition, a joint working group has been formed for a feasibility study on building a gas pipeline from Russia to India. We already have cooperation in nuclear energy which is doing very well, but hydrocarbon is an area of great promise. Russia is very keen that we invest in projects in East Siberia and the Arctic region.

    Given all this, what are your priority areas to further deepen the bilateral relationship?


    We have a special and privileged strategic partnership with Russia. This is what we call it. To sustain and justify it, we need to develop all pillars of it equally. One pillar which is relatively weaker is trade. Reviving Rouble-Rupee trade is easier said than done, though two central banks are actually working on the possibility. We expect their report in a few months. Earlier we could trade in Rouble-Rupee, because both currencies were non-convertible. Today, we have a convertible Rouble and a partially convertible Rupee, so it is difficult to trade. But let’s be clear, Rouble-Rupee trade is not a panacea – a solution to weak economic ties. Trade can only grow when both countries want to buy each other’s products. We need greater promotional efforts.

    The other area is investments. I have already spoken about hydrocarbons. The other areas that we are interested in are natural resources. Russia is the richest country as far as natural resources are concerned. We are now looking at fertilisers, white coal and some other resources.

    Nuclear energy has developed very well and has the potential of growing fast. This also fits into our plans. We have put in a very ambitious plan in the last summit meeting, that we will develop at least 12 reactors in two decades. We have two at present; the second one will be commissioned soon. We have already signed the general framework agreement for three and four. We will start the spadework for reactors five and six soon, because these things take time.

    Even in the defence sector, there is so much in the pipeline that all we need is focussed attention to see the programme through to completion. Unfortunately, the media focuses on big ticket items because they make instant news. But actually there are so many small projects, amounting to a lot of money, which are being done quietly.

    Product support is one of the recurring problems with Russian equipment. While Indian companies complain of poor support by the Russian OEMs, they feel constraint because all transactions happen through Rosoboronexport. Why can’t Indian users deal with the Russian companies directly, at least in respect of spares etc?


    Over the last one or two years, we have been discussing the after-sale product support issue constantly with the Russians. Since then, 23 OEMs, by the decree of President Putin, have been given the right to deal directly with the Indian users for servicing, upgradation, repair and maintenance of Russian platforms. So, they are now able come to India directly to resolve these issues with the Indian users and industrial partners. Why do you think 30 Indian companies came to MAKS and secretary, department of defence production took the time and effort to preside over a special Make in India session with Indian and Russian arms companies. Indian companies are very keen to start this process and the Russians are conscious of the fact that after sales support is crucial to selling more of their equipment in India. The Indian Embassy in Russia, along with the Russian ministry of industry & trade, organised another interaction of Indian and Russian companies during the Show. The second such conference will be organised in India soon.
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    George1

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    Re: Russia - India Strategic Relationship: News

    Post  George1 on Tue Oct 20, 2015 10:43 pm

    Trade turnover between Russia, India to reach $30 bln by 2025 — Deputy PM

    MOSCOW, October 20. /TASS/. Trade turnover between Russia and India may reach $30 bln by 2025, Deputy Prime Minister Dmitry Rogozin said at a meeting of Russian-Indian intergovernmental commission on Tuesday.

    "The issue is about reaching $30 bln worth of mutual trade turnover and $15 bln worth of mutual investment by 2025," Rogozin said.

    Deputy Prime Minister also said the Russian government is taking steps to create favorable conditions for developing trade, economic and investment cooperation, particularly free trade agreement, agreement on mutual stimulation and protection of investment, on payments in national currencies, on admitting certifications of conformity and education and diploma standards. Rogozin added that the cooperation program in oil and gas sector has been launched.

    Russian export center must become "single window" of economic interaction between Russia and India

    According to Rogozin Russia’s export center must become a "single window" of economic interaction between Russia and India.

    "The modern times makes it necessary to simplify and accelerate the processes of public administration, the development of economic institutions to support and stimulate economic activities, the development of one-window system. We should do everything what is needed to ensure that our agencies work in comfortable, red-tape free conditions. I would like to note that the newly created Russian export center should become such a window for the development of foreign economic relations," Rogozin said.

    Rogozin said that relations between Russia and India had shown a steady development over the years. According to him, Russia is ready to support India and actively participate in the implementation of large-scale projects on developing the country's economy.

    "Russia is ready to assist India in nuclear energy development, upgrade of thermal power plants, metallurgical and machine-building companies, exploration, mining, construction of gas pipelines, power lines, rail infrastructure, rolling stock, aircraft and helicopter, the peaceful use of space, the development of modern means of communication, the creation of "smart cities", the construction of industrial facilities, construction and creation of modern systems of water treatment, the development of medical equipment and medicines, training of qualified personnel," the deputy prime minister said.

    Russia, India eye expansion of trade in national currencies

    First Deputy Minister of Economic Development Alexey Likhachev said India and Russia would like to expand bilateral trade in national currencies, but the banking systems are not yet ready for being actively involved in this process.

    "This is a burning issue. Our banking systems are not ready to actively respond to the request. We would like to expand it [trade in national currencies -TASS]," he said.

    According to him, the use of national currencies would increase the volume of trade because it allows the parties to avoid currency fluctuations.

    "It's much more comfortable for entrepreneurs, significantly reduces transaction expenses and reduces costs," Likhachev said.
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    Pinto

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    India and Russia: A Course Correction

    Post  Pinto on Sat Nov 21, 2015 10:30 am

    An upcoming visit by Indian PM Narendra Modi may lend some needed momentum to ties.



    Over the past six months, Russia has made its presence felt in the global realpolitik scene with gusto. With the Kremlin militarily intervening in Syria, reportedly bombing ISIS and in effect protecting Bashar al-Assad’s regime in Damascus, while juggling a yet unresolved Ukraine crisis and dealing with Western sanctions… Moscow has its hands full.

    Most aspects of India-Russia bilateral ties are quite institutionalized, and work in an automated manner irrespective of who is in power in New Delhi or Moscow. Russia could perhaps be seen as India’s only definitive “strategic” partner in its truest form, and this unique relationship has developed over decades.

    However, over the past year the Moscow-Delhi dynamic seems to have lost some of its previous momentum. This may now be about to change, with Prime Minister Narendra Modi preparing to make his first visit to Moscow early next month.

    Russia’s economy is in crisis, with oil prices below $50 per barrel at a time when Russian President Vladimir Putin is wielding Russian military power in the global political theater. With Ukraine to Syria, Russia is involved in external military operations that analysts believe are unsustainable for the long run given Moscow’s current economic environment.

    When Putin visited India in December 2014, a few months after Narendra Modi won a historic election and became the new prime minister, the Russian president’s stay was cut short from a planned three-day visit to one lasting barely 23 hours. This was largely due to the Ukraine crisis, which was peaking at that point. After this visit, the noose of Western sanctions on Russia tightened, and Moscow began looking at India and China to boost its own finances at home.

    Moscow’s attempts to compensate for oil revenues with defense revenues for its exchequer are not easy tasks to achieve. Russia’s reaction to losing Indian helicopter deals and MMRCA fighter jet deals to the United States and France was to make its displeasure known by a sudden affinity to bolstering Russia-Pakistan ties. In what seemed like a contemptuous move against Delhi, Russian Defense Minister Sergei Shoigu, who is very close to Putin, visited Islamabad in August, a trip that saw both countries sign defense agreements including the sale of Mi-35 “Hind E” attack helicopters, a variant of the type also operated by India. To push the envelope a little further, reports surfaced last month that Moscow and Islamabad were in talks for the former to sell its top of the line Sukhoi 35 fighter jets to Pakistan (India operates the Sukhoi 30MKI variant). Both of these developments naturally created ripples in the Indian strategic and defense affairs discourse.

    However, this realpolitik maneuvering by Russia is mostly to send a message to New Delhi about the latter’s growing clubbiness with Washington. Moscow is not used to losing out on Indian defense contracts, which it sees as a significant part of its arms export pie. Of course, for the longest time India had few options other than Russia for its defense needs. The recently concluded aircraft carrier saga between the two nations that gave India the INS Vikramaditya (formerly the Admiral Gorshkov with the Russian Navy) could be seen as something of a turning point, where the project cost India much more than expected and Russia acted arrogantly on the questions of price and delivery schedules. For now, analysts are confident that Russia will in fact not sell the Sukhoi 35s to Pakistan.

    Even after considering the above parameters, India is still investing in Russia and helping Moscow more than perhaps the Kremlin would like to publicly acknowledge. New Delhi was vague at best, flirting with support for Russia’s annexation of Crimea and later gave some sort of backing to Moscow’s bombing campaign in Syria. On the economic front, India’s ONGC Videsh has continued to invest in Russian energy sector with only last month buying a 15 percent stake in Russia’s second largest oil field for around $1.27 billion. Beyond this, India is also keen to go deeper into Russia’s Arctic regions and jointly work on the exploration and production of oil and natural gas, establishing itself as a long-term player in the country’s energy sector.

    To give some further relief to Moscow in its sanction ridden economic woes, Indian dairy companies are keen to enter the Russian market, which will allow Russia to deal with its growing food crisis, specifically milk. Currently, Russia is using its relations with Belarus to get around European Union (EU) sanctions, using Minsk as the middleman to plug its gaps. For a small country, Belarus’s imports of milk from the EU reportedly went up by a factor of 573 last year, with the extra supply of course being handed over to Moscow. Belarus at the same time has also become a net exporter of fish, an astonishing achievement for a land-locked country.

    It is true, however, that Russia has been unnaturally absent from Modi’s global outreach over the past year. During this same period, the Russian economy has been hit on two major fronts, oil prices and sanctions. In the run-up to Modi’s meeting with Putin, India’s Defense Minister Manohar Parrikar during a visit to Moscow agreed to purchase Russia’s advanced S-400 Triumf air defense missile system for a whopping $10 billion. And this is precisely what Moscow wants from New Delhi, the continuous dominance of its defense partnership with India. However, Putin must realize that India’s political mileage in the global arena is much stronger than it used to be. India can now afford to buy better and more reliable weapons even if they cost more than what Russia has to offer, if what it is offering is not up to the expectations.

    There are no major scars in the India-Russia dynamic, but Modi’s visit should successfully inject that much-needed oil into the political machinery between the two states. The need for this visit by Modi has become more than apparent over the past few months, and both Modi and Putin will welcome this opportunity for a course correction.

    http://thediplomat.com/2015/11/india-and-russia-a-course-correction/
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    Pinto

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    Tata to make parts for Sukhoi Superjet

    Post  Pinto on Sun Dec 13, 2015 3:26 pm

    Russia is keen on extending its cooperation with India in aerospace sectors to the civil aviation sector and is in talks with several Indian private companies to establish joint projects under the ‘Make in India’ initiative.

    Sukhoi and Tata are in advanced stage of talks for the latter to build components for the Sukhoi Superjet (SSJ) 100 in India.

    “We are in talks with Tata on manufacturing some of the tail components of the SSJ 100 in India. The talks are in an advanced stage,” Yury B. Slyusar, president of United Aircraft Corporation (UAC), told a group of visiting Indian journalists who were in Russia at the invitation of the UAC.

    Tata already manufactures aerostructures and components for several global Original Equipment Manufacturers at its facilities in Hyderabad. Mr. Slyusar said a visit to Tata facilities in India by the company officials showed that their technical capability was up to the mark.

    In addition to Tata, the UAC is also in talks with Mahindra and Reliance which are at a preliminary stage. With Reliance, military cooperation is also being discussed, Mr. Slyusar added.

    Huge potential

    Sukhoi is planning to offer the SSJ 100 for the Indian market which has a large growth potential for civil aircraft. It is being pitched as a product offering the comfort and economy of a narrow bodied aircraft with the range of a regional jet. Company officials said India along with China, Middle East and Latin America, is one of the priority markets.

    SSJ 100 is already being serially produced and over 56 aircraft are in operation. Several airlines have cumulatively flown over 1,18,400 flight hours as of November 2015 starting from April 2011.

    Russia has also offered to collaborate with India in its ambitious efforts to build a regional passenger


    http://www.thehindu.com/news/national/tata-to-make-parts-for-sukhoi-superjet/article7981690.ece

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    Re: Russia - India Strategic Relationship: News

    Post  Austin on Sat Dec 19, 2015 5:27 am

    Indo-Russian Trade Potential from ex Indian Ambassador to Russia

    Remove blocks

    Besides oil, gas and nuclear energy, other sectors are opening up, promising more trade and interaction.
    Ajai Malhotra


    At the 15th annual summit in New Delhi last December, Prime Minister Narendra Modi and Russian President Vladimir Putin set a bilateral trade target of $30 billion by 2025. While it appears that our trade in 2015 would probably not even reach $8 billion, statistics do not bring out the complete picture of commercial and economic interaction.

    India's largest export to Russia is pharmaceuticals, a sector with considerable growth potential. Unlike in most other sectors, many Indian firms are present in the Russian market. Indian companies could gain market share by investing in manufacturing in Russia in line with its Pharma-2020 strategy, but they need to insulate themselves against the rouble's volatility.

    Despite efforts to diversify its economy and reduce reliance on oil and gas revenues, Russia's range of internationally competitive products remains limited. The three main branches of its economy with serious business potential-oil and gas, nuclear energy and defence - are all sectors in which India and Russia already partner closely.

    India's largest oil and gas investments abroad have been in Russia. ONGC Videsh Ltd (OVL) has pumped in more than $5 billion into Sakhalin-1 and Imperial Energy at Tomsk, and easily the most oil it extracted last year from its foreign investments was from Russia. OVL has also committed to a 15 per cent stake in Vankorneft, the Rosneft company that operates the huge Vankor oilfield in eastern Siberia. Oil India, which invested in an oil company in Tomsk last year, is also close to acquiring, with Indian Oil, a 20 per cent stake in Rosneft's Taas-Yuryakh oilfield in Siberia. OVL and Rosneft have also agreed to cooperate in Russia's Arctic shelf. Under a 2012 agreement Gazprom, Russia's biggest gas supplier, will deliver 2.5 million tonnes of LNG annually to GAIL from 2017-2037.

    In nuclear energy,
    the first of six 1,000 MW nuclear power units in Kudankulam in Tamil Nadu has started generating electricity, the second will be completed shortly, and construction of the third and fourth units will follow. Negotiations over the fifth and sixth units are due to begin and at least six more 1,000 MW nuclear power units would be built in India.

    Fertiliser frequently occupied the top spot among Russian exports to India, but in recent years its off-take has declined in the absence of long-term purchase agreements. Meanwhile, Russian diamonds used to come through third countries for being cut and polished in India. However, last year diamonds emerged as the top item of export from Russia to India as a consequence of direct purchases. A weaker rouble has also led to interest among Indian companies in importing chemicals, paper, timber and several commodities from Russia.

    Private Russian companies are also investing in India. Russian billionaire Yuri Milner's firm DST Global has become a significant investor in online Indian businesses such as Flipkart, Ola, health start-up Practo, grocery venture Grofers, food delivery company Swiggy, ethnic products marketplace Craftsvilla, and freight booking service Black Buck. Another Russian billionaire, Vladimir Yevtushenkov recently handed over his Sistema holding in India to Anil Ambani's Reliance Communications in return for a 10 per cent share in the merged entity.


    Ajai Malhotra is a former Indian ambassador to Russia

    Austin

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    Indo-Russian Trade Potential from ex Indian Ambassador to Russia

    Post  Austin on Sat Dec 19, 2015 5:29 am

    It seems India will offer Russia another place in Andhra Pradesh to build 6 Nuclear Reactor.

    They are already building 6 in Tamil Nadu , So total 12 Russian Reactor of VVER 1200 LWR types will be built in India
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    Pinto

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    India and Russia eye nuclear, helicopter deals before Modi's Moscow visit

    Post  Pinto on Sat Dec 19, 2015 7:32 am

    Prime minister Narendra Modi is expected to promote deals for Russian nuclear reactors and military helicopters worth billions of dollars on a trip to Moscow next week, attracted by promises to transfer technology that Western nations have been slow to make.

    Russia and India will manufacture 200 Kamov-226T helicopters in a joint venture, a Russian and an Indian government official said, in the first big step for PM Narendra Modi's campaign to build a domestic industrial base and reduce the military's dependence on expensive imports.

    Modi, who heads for Moscow on December 23, will also offer Russia a site in the southern state of Andhra Pradesh to build six nuclear reactors of 1,200 megawatts (MW) each, the same sources added.

    That is in addition to the six Russia is constructing in neighbouring Tamil Nadu state, said the officials, who spoke on condition of anonymity because they were not authorised to speak to the press.

    New Delhi has turned to Russia as US firm General Electric and Westinghouse, a US based unit of Japan's Toshiba, are still weighing an entry into India's nuclear energy sector because of a law that makes reactor suppliers liable in case of an accident.

    Modi's Make-in-India push for a military that has been the world's biggest importer for the last four years has also made little headway, with negotiations stalled over issues including technology transfer and the local assembly of equipment.

    For Russia, India offers an alternative, fast-growing outlet for its exports as sanctions imposed by the West squeeze the economy.

    "While others are making promises, Russia is moving forward with the Make-in-India programme," the Russian government source said.

    Russia let dominance slip


    Moscow, which has maintained close ties with India since the Cold War, has in recent years slipped behind the United States and Israel in securing orders in the Indian defence market, estimated to be worth $130 billion over the next seven years.

    Now Russian President Vladimir Putin is banking on India's drive to manufacture at home to regain market share.

    "The objective is that whatever we do with Russia, that will have a 'Make-in-India' component," said Amitabh Kant, the top Indian bureaucrat leading the push to turn India into a global manufacturing base.

    Under an inter-government agreement to be signed during Modi's trip, Moscow will set up a production line for the light helicopters that will supply the Indian military but also eventually Russia, the Russian official said.
    India's state-run Hindustan Aeronautics and Anil Ambani's Reliance Defence are in the running as local partners for the deal for the 200 twin-engined helicopters, estimated at $1 billion, to replace India's ageing fleet of Cheetah and Chetak helicopters.

    "The choice of the Indian partner has been left to the Indian government. We will work with anyone the government nominates," the official said.

    India is also turning to Russia to secure overseas energy assets to help fuel its economy. Indian Oil Corp and Oil India, both state-owned, are in talks with Russia's Rosneft to buy up to a 29 percent stake in a Siberian oil project, two sources said on Friday.

    Russia has the advantage

    The helicopter deal would be the first major contract under Modi's drive to build weapons at home that has excited local defence companies but failed to deliver any significant tenders.

    As some Indian manufacturers look to Western firms for the tie-ups needed to bring in technology and build locally, Reliance is forging closer ties with Russia to jumpstart its nascent bid to develop a defence business from scratch.

    A Reliance executive, who asked not to be named, said negotiations to win the joint helicopter venture would not start until the two governments had agreed the deal. Hindustan Aeronautics did not respond to a request for comment.

    A source close to Rosoboronexport, Russia's state-owned arms exporter, said India would produce 140 of the choppers and Russia the remaining 60. Pre-contract work is underway and the two sides expect to clarify the agreement during Modi's visit, the source said.

    An Indian government official confirmed the plan to sign the helicopter deal as well as the proposed offer of Andhra Pradesh as the location of the next set of reactors to be built by Russian state-owned nuclear firm Rosatom.

    The two sides have not given any value for the deal. Rosatom spokesman Sergey Novikov said there were no plans yet to sign any contracts during Modi's visit.

    Nandan Unnikrishnan, an expert on India-Russia relations at the Observer Research Foundation, said that despite New Delhi's tilt towards the West for military hardware in recent years, Russia retained an edge in many areas.

    "Russia has a distinct advantage over everyone in understanding how Indian bureaucracy works, given the level of trust that exists in the Indian establishment vis-a-vis Russia," he said.

    http://economictimes.indiatimes.com/news/defence/india-and-russia-eye-nuclear-kamov-helicopter-deals-before-pm-modis-moscow-visit/articleshow/50236049.cms

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