During Indian External Affairs Minister (EAM) S. Jaishankar’s visit to Russia, the two countries signed some “very important” agreements concerning the construction of the future power-generating units of the Kudankulam nuclear power plant.
The announcement was made by Jaishankar, who arrived in Russia for a five-day visit from 25-29 December as a part of the ongoing high-level exchanges between the two countries.
Meeting with Deputy PM Manturov, Nuclear Agreement
Jaishankar held a comprehensive and productive meeting with Russian Deputy PM Denis Manturov on India-Russia bilateral economic cooperation.
The two countries signed several agreements on nuclear power, including those related to the Kudankulam Nuclear Power Plant, which is being built in Tamil Nadu with Russian assistance.
The construction of Kudankulam, which is India’s largest nuclear power, began in March 2002. The plant’s first power unit has been continuously running at its 1,000 MW design capacity since 2016, and the plant is expected to begin to run at full capacity in 2027.
Visited the Russian Industry and Trade exhibition with DPM Denis Manturov.
— Dr. S. Jaishankar (@DrSJaishankar) December 26, 2023
An interesting exposition on Russia’s contemporary capabilities. Holds promise for greater collaboration between our two countries. pic.twitter.com/hI7tqSDJ5Q
Agreements were also signed in the areas of medicine, pharmaceutical substances, and medical devices.
The two sides noted the significant progress in trade, finance, connectivity, energy, civil aviation, and nuclear domains and appreciated the greater focus on exploring new opportunities.
India-EAEU FTA
During the meeting, India and Russia finalised the program of cooperation in the Russian Far East.
The EAM said that the two nations discussed holding an early meeting of the Eurasian Economic Union (EAEU) - India Free Trade Agreement negotiators.
The Russian-led EAEU comprises Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan.
The two countries agreed to jointly organise connectivity events across land and maritime corridors.
Jaishankar and Manturov also discussed making the cooperation between their countries more balanced and sustainable in different dimensions.
India to Deepen Ties with Russia in a Multipolar World
Additionally, the EAM interacted with the Indian community in Moscow during his visit and appreciated their contribution to enhancing the India-Russia ties.
He said that the special and privileged partnership of the two countries showcases the experiences of the 75 years of the ties.
“An Atmanirbhar Bharat (Self-Reliant India) will deepen ties with Russia in a multipolar world,” Jaishankar remarked.
Meeting with Russian Strategic Community
Jaishankar also met the Russian strategic community and spoke of the “importance of rebalancing and emergence of multipolarity.”
He tweeted, “Geopolitics and strategic convergence will always keep India-Russia ties on a positive trajectory.”
An interaction with the Indian community in Moscow, Russia. https://t.co/PLmorlXual
— Dr. S. Jaishankar (@DrSJaishankar) December 26, 2023
Further, the two sides discussed connectivity, multilateralism, big power competition, and regional conflicts.
Expanding Use of National Currencies
The EAM is scheduled to meet his Russian counterpart Sergey Lavrov on Wednesday.
The main emphasis of the meeting “will be on assisting in the further development of sustainable transport and logistics, and banking and financial chains, as well as expanding the use of national currencies in mutual settlements,” a statement released by the Russian Foreign Ministry noted.
Both sides will also discuss issues on cooperation in high-tech areas like space and nuclear and joint programmes for developing hydrocarbons in the Arctic shelf and the Russian Far East.
Furthermore, they will take stock of the situation in Ukraine, Afghanistan, and the Israel-Palestine issue.