India, Russia sign $5.43 Billion S-400 Missile Deal

ONI Bureau:  India signed deal worth $5.43-billion to buy five Russian S-400 Triumf Missile shield systems at the 19th India-Russia annual bilateral summit at Hyderabad House in New Delhi on Friday. The system is expected to be delivered by 2020.

Apart from the S-400 missile deal, India and Russia also signed deals for more space cooperation. Indian monitoring station will be built near the Russian city of Novosibirsk in Siberia reportedly.

Prime Minister of India, Narendra Modi and Russian President Vladimir Putin also discussed key regional and global issues, including US sanctions on import of Iranian crude oil.

In a joint statement with Russia President Vladimir Putin in Delhi, PM Modi said Russia has always been a part of India’s growth story. Both the countries have mutual benefits in supporting struggle against terrorism, Afghanistan & Indo-Pacific events, climate change; organisations like SCO, BRICS, G20 & ASEAN. Both the country have agreed to continue cooperation to these international organisations.

Delivering his statement,  Russia President Vladimir Putin invited Prime Minister Modi to participate in the next Vladivostok Forum in Russia as the main guest. Vladivostok Forum aiming of encouraging foreign investment in the Russian Far East.