Russian President Vladimir Putin is in India and in all likelihood, India will sign a deal to procure S-400 missile deal. He reached India on Thursday. The Summit is important as US and Chins are watching it closely. India wants to procure the long-range missile systems to tighten its air defence mechanism, particularly along the nearly 4,000-km-long Sino-India border. Here are the main 10 points of the Summit:
1. India-Russia Summits are the highest level of official exchange between the two countries and is closely watched by the super powers of the world. 2.US and China will closely watch the Summit for obvious reasons.
3. Both Modi PM Modi and President Putin will hold talks in the 119th annual India-Russia bilateral summit. Here India and Russia are expected to sign 20 bilateral agreements.
4. The leaders are set to discuss key regional and global issues, including US sanctions on import of Iranian crude oil
5. The two leaders will also review bilateral defence cooperation in the wake of the US sanctions against Russian defence majors.
6. The main focus of the visit will be S-400 Triumf air defence missile systems agreement with a top Kremlin aide saying Tuesday that Russian President Putin will oversee the signing of the “USD 5 billion deal.
7. India wants to procure the long-range missile systems to tighten its air defence mechanism, particularly along the nearly 4,000-km-long Sino-India border.
8. The purchase will violate sanctions under the Countering America’s Adversaries Through Sanctions Act (CAATSA) instituted by the US Congress on arms purchases from Russia, but American lawmakers have allowed the possibility of a presidential waiver.
9. There have been indications by New Delhi that it will go ahead with the deal notwithstanding the US sanctions.
10. The value of the contract will be more than USD 5 billion ((Rs 3,691 crore at current price),” he said.