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Big news: India signs $5.4-billion deal to buy Five S-400 missile systems from Russia

India Prime Minister Narendra Modi who recently spoke at the closing of the India-Russia Business Summit in the national capital said that both nations need to have a healthy competition. PM Modi said adding that both nations need to focus on nuclear technology.

This means that both countries are like friends with regards to nuclear energy. There is totally no need of buying or selling the products now, as both nations can work together to make the products in India itself which can be called as ‘Make in India’.

As per the PTI inputs, India signed $5.4-billion deal to buy five S-400 missile systems from Russia despite US warning. Apart from this, both countries also signed eight pacts in areas ranging from defence, nuclear energy, space and economy. “We (PM Modi and Russian President Vladimir Putin) don’t leave a chance to meet each other, The world is changing but the friendship between India and Russia never changed,” PM Modi said according to ANI.

The relationship ties are getting better between the two nations. “We have established a system “Russia plus” to make an investment in India easier for Russian companies. Joint Working group; is working to strengthen financial cooperation, Business activities between the two countries will increase due to such cooperation,” PM Modi said.

A sensational development means that India and Russia aim to do a project of six nuclear power units of Russian design at a new site in India, in a bid to improve the cooperation in the third countries and to bring in new nuclear technologies together with the joint construction of nuclear power plants.

As per the document, for the new nuclear project in India, Russia will provide the evolutionary VVER generation “3+” technical solutions and will amplify the level of Indian industry’s involvement and localization, which is the state of ‘art nuclear reactor technology’ in the world.

For now, Russia is the only foreign partner for nuclear reactors in India with the first plant in Kudankulam. Apart from this, India and Russia are involved in a joint collaboration project for the nuclear power plant in Bangladesh.

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