India, Russia finalize ‘M-defense’ contract

20 killed in bus fall

NEW DELHI, Oct 6, (Agencies): India and Russia on Friday signed eight agreements apart from concluding an earlier contract to purchase a crucial missile defense system which may invite sanction under a recent American law.

Indian Ministry of External Affairs said in a joint statement issued after the 19th Annual Bilateral Summit in New Delhi that both countries welcomed the signing of the contract S-400 missile defense system worth $4.5 billion to India.

Putin arrived New Delhi yesterday evening to take part in the summit, which aimed at enhancing bilateral cooperation in the fields of trade, security, energy, science and technology and military technical cooperation and international issues and saw signing of eight important agreements. “The sides reaffirmed their commitment to the Special and Privileged Strategic Partnership between India and Russia. They declared that this relationship is an important factor for global peace and stability and appreciated each other’s respective roles as major powers with common responsibilities for maintaining global peace and stability,” the joint statement said.

India and Russia also called upon other nations to help decrease global tensions and promote tolerance, cooperation, transparency and openness in mutual relations.

Officials from both the countries also pledged to work together to achieve rapid and sustainable economic development, end poverty, bring down inequality among states and people and provide fundamental health care to all. India and Russia pledged to cooperate with each other to achieve these goals.