Modi meets Putin; ties set for an upgrade

RUSSIAN PREZ IN INDIA FOR 23RD ANNUAL BILATERAL SUMMIT

- MUKESH JAGOTA

Larger S-400 deal, new roadmap for oil trade on agenda today

RUSSIAN PRESIDENT VLADIMIR Putin began his two-day visit to India Thursday evening amid expectations the two countries will seal a clutch of agreements during his stay here, redefining bilateral trade and investment ties.

Even as the US sanctions have cast a cloud over Russia's sales of crude to India, the two sides are likely to agree to a plan to rejig energy trade. Moscow will also explore ways to buy more Indian goods to cut the huge trade deficit of about $60 billion annually.

Deals on missile systems, fighter jets and small modular reactors for nuclear energy are also expected to be signed on Friday at the 23rd India-Russia annual summit. Abilateral contract may be finalised under which India would undertake to buy more S-400 air defence missile systems from Russia, adding to the fleet of five purchased by it under a $5 billion deal signed in 2018. The plan to sign a new S-400 contract is despite the chances that it also might attract US sanctions.