India on Friday hammered out a Rs 39,000-crore deal for five S-400 Triumf air defence missile systems with Russian Federation during the annual summit between the two countries led by Prime Minister Narendra Modi and visiting President Vlamidir Putin. The contract is estimated to be worth more than five-billion dollars and gives the Indian military the ability to shoot down aircraft and missiles at unprecedented ranges.
The spotlight will be on the S-400 missile defence system deal as, if signed, it could violate US sanctions under the Countering America's Adversaries Through Sanctions Act (CAATSA) instituted by the US Congress on arms purchases from Russian Federation.
The U.S. did not spare China from sanctions last month for purchasing its own Russian S-400 surface-to-air missile systems and fighter jets.
"It´s about time we. showed that we are not going to be pushed around by Washington". However, U.S. arms exports to India rose by 557 percent between 2008-2012 and 2013-2017, according to SIPRI.
PIBPrime Minister Narendra Modi today said India is emerging as a shining star among world economies and the government is working on a number of reforms to boost this.
"As and when the government approves it, delivery (of the missiles) will be in 24 months", Indian Air Force chief B.S. Dhanoa had earlier said.
India had already given indications that it will go ahead with the deal notwithstanding the USA sanctions. The Russian president arrived in the Indian capital Thursday on a two-day visit. Faced with public discontent, President Vladimir Putin proposed several measures - that were adopted by the State Duma - to soften the pension reform, including lowering the pension age hike for women to 60.
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The Yankees host Oakland on Wednesday night in a wildcard matchup and could well end up back here Friday for Game 1 of the A.L. New York Yankees' Giancarlo Stanton strikes out for the fifth time in a baseball game against the Tampa Bay Rays in New York.
Also expected to come up for discussion is Washington's fresh sanctions on Iran over the country's nuclear programme.
Statistics showed trade between Russian Federation and India increased by 20 percent in the period January to July, amounting to more than $6 billion.
Image: China also bought Russian S-400 anti-aircraft missile launching systems.
Named after former Indian Prime Minister, Atal Bihari Vajpayee, the Atal Innovation Mission (AIM) is a flagship initiative school set up by India's policy think tank NITI Aayog to promote innovation and entrepreneurship among future generations.
The two leaders reserved most of their time during Mr. Putin's brief 22 hour visit for one-on-one interactions, spending three hours at dinner on Thursday and almost two hours on Friday in intense talks on a wide range of bilateral and global issues.
The eight agreements that were signed on Friday spanned diverse areas ranging from space and nuclear cooperation to railways and agriculture.