India and Russia are likely to sign 15-20 agreements during Russian President Vladimir Putin’s visit here on December 10 and 11 for the 15th annual summit meeting between the two countries, Government sources said on Friday.
Not all the agreements will be between Government entities, sources said, adding that a large delegation of Russian CEOs would also accompany Putin on his visit.
India and Russia are likely to firm up an agreement on increasing import of rough diamonds from Russia; such exports now stand at $900 million annually.
Sources said the dominant theme of the summit would be the two leaders spelling out a joint vision on the bilateral relationship over the next decade. This would provide a roadmap to strengthen the partnership.
The summit will have a strong focus on redefining the economic partnership between the countries. Several documents are being prepared for signing at the summit, in the Defence, nuclear energy, Customs, banking and energy areas, sources said. An address by Putin to a joint sitting of Parliament seems “unlikely” due to scheduling problems, Government sources said.
During the summit the two leaders will also discuss their vision of trade and investment relations over the next decade. At present, bilateral trade stands at about $10 billion, while Russian investments in India and those by Indian companies in Russia stand at $5-6 billion.