Russian Federation calls for rupee-rouble trade; prepares economic strategy for India

India Signs $5 Billion Deal For Russian Air Defense Systems

India Signs $5 Billion Deal For Russian Air Defense Systems

The deals were signed on Friday after the USA previously said it would impose sanctions on countries trading with Russia's defence and intelligence sectors. The S-400 systems' deliveries to India will begin in the next two years.

The S-400 system, which is effective against aircraft as well as ballistic and cruise missiles, has a maximum range of 250 miles.

Russian Federation is one of only two countries with which India holds annual bilateral summits, the other being Japan.

The deal signed on Friday is a setback to USA efforts to "isolate" Russian Federation and it would now have to choose between "punishing" India or agreeing to a waiver.

Talks with President Putin have given a new direction to the bilateral strategic partnership, Modi said in a press statement after the 19th India-Russia annual summit.

In a statement, a spokeswoman for the US embassy in New Delhi, Jinnie Lee, said that the law is "not meant to impose damage to the military capabilities of our allies or partners".

India and Russian Federation have a close relationship that dates back to the Cold War, when the US tilted toward Pakistan, India's neighbour and archrival.

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Upgrades in arms systems "including the S-400 air and missile defense system" would be a particular focus for CAATSA, a US State Department spokesperson was quoted as saying by India s PTI news agency. "I am very happy that you have assured full cooperation of Russian Federation in this mission", Mr. Modi said.

Prime Minister Narendra Modi further said that his government brought a number of reforms in the FDI sector. Various U.S. officials, including U.S. Secretary of Defense James Mattis, have openly spoken out against possible sanctions on India. Almost 70 per cent of India's present-day defence equipment was procured from Russian Federation, according to India's Defence Ministry.

The new S-400 defence system squadrons can shoot down enemy aircraft from the surface.

Putin arrived in Delhi on Thursday evening and he and Modi were due to have dinner before the main talks on Friday.

But Russia still remains India's biggest military equipment supplier, accounting for 62 percentof India's total weapons imports during the past five years, according to the Stockholm Peace Research Institute. The two countries also signed eight agreements covering space, nuclear energy and railways at a televised news conference.

Putin added that Russian Federation will contribute to the implementation of "Make in India" initiative.

Earlier this year the US threatened to impose sanctions over the purchase of S-400s against Turkey, which opted for the Russian-made systems after the USA and other North Atlantic Treaty Organisation allies refused to sell air defense systems to Ankara.

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