Delhi, Moscow sign energy deal, set $30 bn trade target by 2025
India and Russia on Wednesday signed a five-year road map for cooperation in the energy sector, the centrepiece of Prime Minister Narendra Modi’s two-day visit to Vladivostok, as New Delhi looks to diversify its fuel sources from the volatile Gulf region.
The energy pact was one of 15 signed in areas ranging from cooperation in the production of spare parts for Russian or Soviet-origin Indian military equipment to infrastructure finance, besides energy cooperation, after talks between Modi and Russian President Vladimir Putin in Vladivostok. This was the 20th summit between Indian and Russian leaders since 2000 when the annual summit mechanism was formalized.
Modi arrived in the Russian Far East earlier on Wednesday, the first to the region by an Indian prime minister.
