Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

PM Narendra Modi meets Vladimir Putin at BRICS; favours broadening of special strategic partnership

Jul 16 2014, 12:50 IST
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PM Narendra Modi shakes hands with Russian President Vladimir Putin during the signing ceremony of 6th BRICS summit in Fortaleza in Brazil. (PTI) PM Narendra Modi shakes hands with Russian President Vladimir Putin during the signing ceremony of 6th BRICS summit in Fortaleza in Brazil. (PTI)
SummaryModi, who has met Putin in 2001 in Moscow, said India's ties with Russia is a time-tested relationship.

Prime Minister Narendra Modi has favoured broadening of the special and privileged strategic partnership with Russia in nuclear, defence and energy sectors and invited President Vladimir Putin to visit Kudankulam atomic power project during his trip in December.

The two leaders met for 40 minutes on the sidelines of the BRICS summit here late last night after their Monday meeting was deferred because of Putin's engagements in Brazil's capital Brasilia.

"Talked about strengthening Russia-India ties in my meeting with President Putin. We value our friendship with Russia," Modi tweeted after his meeting with Putin as the Prime Minister.

Putin congratulated Modi on his great victory in the recent elections.

Modi, who has met Putin in 2001 in Moscow, said that India's ties with Russia is a time-tested relationship and he appreciates that it has been so since early independence.

He expressed deep appreciation for Russia's friendship and unstinting bilateral and international support for India's economic development and security since India's independence.

Speaking in Hindi, he remarked, "Even a child in India if asked to say who is India's best friend will reply it is Russia because Russia has been with India in times of crisis."

"The Prime Minister conveyed his sincere appreciation and admiration for President Putin's decisive leadership in deepening and expanding the India-Russia special and privileged strategic partnership," said a statement issued by the Prime Minister's Office.

He said India is committed to taking the relationship forward and the focus is to broaden the strategic partnership including in the areas of defence, nuclear energy, space, energy, trade and investment, people-to-people contacts and addressing regional and global challenges.

The prime minister said there was need to look at a liberal visa regime, especially students going for studies.

President Putin acknowledged that there was a case for looking at it, MEA spokesman Syed Akbaruddin said.

Modi suggested that President Putin should travel outside Delhi when he comes for the annual summit dialogue in December and visit a nuclear construction site, an apparent reference to the Kudankulam II project.

Putin responded saying "it is a good idea".

Units 1 and 2 of Tamil Nadu-based Kudankulam Nuclear Power Plant (KKNPP) have been built with the help of Russian assistance at the cost of Rs 17,200 crore.

India and Russia signed a General Framework Agreement on unit 3 and 4 in April this year after crossing the initial hurdles of the Civil Liability

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