The Bloomberg report, which appeared just ahead of Russian President Vladimir Putin's two-day visit to Delhi on Thursday, had said that India was preparing to finalise a $2-billion lease for a nuclear-powered attack submarine. The PIB in an earlier statement said the India-Russia bilateral relationship has remained strong and stable over the past 78 years, with a shared commitment to a multipolar world as well as to expand the engagement beyond the traditional military, nuclear and space cooperation.
In the past two years, the bilateral trade has expanded significantly. During President Putin’s visit, starting on Thursday, discussions will be held on ways to increase exports from India as well as developing new models of cooperation. Both countries are also looking to strengthen inter-regional cooperation, especially with the Russian Far East and promote connectivity initiatives like the International North-South Transport Corridor, the Chennai-Vladivostok Eastern Maritime Corridor, and the Northern Sea Route, according to an official statement issued on Thursday.
The statement also highlighted that defence is one of the most important parts of the strong friendship and strategic partnership between India and Russia. The longstanding and wide-ranging military technical cooperation between the two countries has evolved from a buyer-seller framework to one involving joint research, development and production of advanced defence technologies and systems. Russia is also an important source for the supply of defence equipment, engines, spare parts and components. Several defence platforms are also assembled or produced in India, such as T-90 tanks and Su-30 MKI aircraft. Both sides have also been exploring co-development and co-production of defence equipment and platforms, including the possibility of export to other countries, such as the Brahmos missile system.
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