By Team IDI

As expected, India and Russia, during the ongoing Russian President’s visit to India for the Annual Bilateral Summit October 4-5, signed the S-400 long-range-surface-to-air-missile deal for $5.43 billion. India is purchasing 5 squadrons of the missiles system which will begin arriving in 24 months.

The deal which saw last moment to and fro was clinched by the personal decision of the Indian Prime Minister Narendra Modi.

Although, the two sides did not sign the agreement publically, like the other but it found mentioned in the  post summit joint statement. “The Sides welcomed the conclusion of the contract for the supply of the S-400 Long Range Surface to Air Missile System to India,” it said.

The summit was expected to witness the signing of three more military contracts for four stealth frigates, 200 Ka226T helicopters and agreement for AK-103 assault rifle manufacturing. If signed these three contracts would have cost as much as the S-400.

On the Military-Technical cooperation, the joint statement said, “The Sides reaffirmed their commitment to enhance military technical cooperation between India and Russia, which has a long history of mutual trust and mutual benefit. Both Sides expressed satisfaction at the significant progress made on the ongoing projects of military technical cooperation and recognized the positive shift towards joint research and joint production of military technical equipment between the two countries. They highly evaluated the Military Industrial Conference process as an important mechanism to promote the "Make in India” policy of the Government of India.”

Other Agreements Signed                                                              

1. Protocol for Consultations between the Ministry of Foreign Affairs and MEA for the period 2019-2023
2. Memorandum of Understanding between the Ministry of Economic Development of the Russian Federation and the National Institution for Transforming India (NITI Aayog)
3. Memorandum of Understanding between Indian Space Research Organization (ISRO) and the Federal Space Agency of Russia ‘ROSCOSMOS’ on Joint Activities in the field of Human Spaceflight Programme
4. Memorandum of Cooperation between the Indian and Russian Railways
5. Action Plan for Prioritization and Implementation of Cooperation Areas in the Nuclear Field
6. Memorandum of Understanding between the Russian Ministry of Transport and Indian Railways in the Development Cooperation in Transport Education
7. Memorandum of Understanding between the National Small Industries Corporation (NSIC), of India and the Russian Small and Medium Business Corporation (RSMB), on Cooperation in the field of Micro, Small and Medium Enterprises
8. Cooperation Agreement in the Fertilizers Sector between the Russian Direct Investment Fund" ("RDIF”); PJSC Phosagro (PhosAgro) and Indian Potash Limited (IPL)