Russia - India

Medvedev in India seals aircraft, nuclear deals

Reuters/B Mathur

Russia and India have signed a pact worth up to 23 billion euros to jointly develop a fifth-generation fighter aircraft. They have also agreed that Russia will build two additional generating units at a nuclear power plant in south India.

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The units will be built at a plant in Tamil Nadu, where it is already setting up two reactors.

The fighter aircraft will have stealth capabilities.

India is one of the world's biggest markets for nuclear technology with plans to reach a nuclear power capacity of 63,000 megawatts by 2032, from the current level of 4,560 megawatts.

The agreements came as Russian President Dmitry Medvedev visited New Delhi for talks with Indian Prime Minister Manmohan Singh.

The two countries also set a target of doubling bilateral trade to 15 billion euros by 2015 and pledged to deepen cooperation on counter-terrorism and regional security.

Medvedev arrived in India on Tuesday, seeking to fend off growing international competition for lucrative Indian defence contracts, which were once hogged by the former Soviet Union.
 

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