What Did Modi and Putin Discuss About India's Defence Manufacturing?
Strengthening Defence Ties Between India and Russia
New Delhi: Russia has committed to promoting joint manufacturing of military hardware and spare parts in India, aimed at enhancing the maintenance of Russian-origin defence equipment.
During a summit held on Friday, Prime Minister Narendra Modi and Russian President Vladimir Putin discussed various strategies to enhance bilateral defence cooperation.
A persistent concern among the Indian armed forces has been the prolonged delays in receiving critical spare parts and equipment from Russia, which hampers the upkeep of military systems acquired from the nation.
According to a joint statement, both nations have agreed to foster joint manufacturing in India for spare parts, components, and other products necessary for the maintenance of Russian-origin arms, facilitated by technology transfer under the Make-in-India initiative.
The statement also highlighted plans to establish joint ventures to cater to the requirements of the Indian military and to facilitate exports to friendly third nations.
The defence partnership between India and Russia is being restructured to focus on co-development and co-production of advanced defence technologies and systems.
In a prior meeting, Defence Minister Rajnath Singh and his Russian counterpart Andrey Belousov expressed their commitment to enhancing bilateral defence collaboration.
The Indian delegation showed significant interest in acquiring additional S-400 missile systems from Russia to strengthen its military capabilities.
In October 2018, India entered into a $5 billion agreement with Russia for five units of the S-400 air defence missile systems, despite warnings from the US regarding potential sanctions under the Countering America’s Adversaries Through Sanctions Act (CAATSA).
So far, three squadrons have been delivered, and the S-400 systems have proven vital during Operation Sindoor. India is also considering the procurement of S-500 missile systems from Russia.
In their discussions, Modi and Putin agreed to continue developing systems for bilateral trade settlements using national currencies.
They also committed to ongoing consultations to enable interoperability between national payment systems, financial messaging systems, and central bank digital currency platforms.
Both leaders acknowledged the progress in joint efforts towards a free trade agreement on goods between India and the Eurasian Economic Union, focusing on sectors of mutual interest.
They urged both sides to accelerate negotiations on a beneficial agreement for the promotion and protection of investments.
Additionally, India and Russia welcomed initiatives to ensure a stable supply of fertilizers to India and explored the possibility of establishing joint ventures in this sector.