TIL Desk/National/World/St Petersburg/ India and Russia have agreed to set up joint ventures for manufacturing aircraft and automobiles as the two nations look to boost trade and economic ties. Russian President Vladimir Putin, after summit talks with Prime Minister Narendra Modi on Thursday, said Russian-Indian economic cooperation is returning to a growth trajectory.
“We both have a stake in consolidating this positive trend,” he said. “Our talks are always held in a warm and friendly atmosphere, and are always substantive and productive. This time was no exception,” Putin added.
India and Russia signed pacts for joint ventures in 19 projects for transport infrastructure, new technology, including pharmaceuticals, aircraft and automobile manufacturing, the diamond industry, and agriculture.
Putin said agreements made in the St Petersburg Declaration outline steps to further deepen bilateral cooperation in the political, economic and cultural spheres. “Encouraging the growth of trade, improving its structure, and expanding industrial cooperation constitute our key priority,” he said.
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