India, Russia to expand ties, national currency settlements

Both agree to encourage joint manufacturing of spare parts in India for Russian weapons

- JAYANTH JACOB @ New Delhi

INDIA and Russia have agreed to deepen defence collaboration and develop systems for bilateral trade settlements using national currencies, according to a joint statement following talks between Prime Minister Narendra Modi and President Vladimir Putin.

The statement said the partnership is being reoriented to support India’s push for self-reliance through “joint research and development, co-development and co-production of advanced defence technology and systems.”