St. Petersburg’s declaration
- Sanskriti se Suraksha:
- PM Modi said the ties between India and Russia span the spectrum from Culture to Defence (Sanskriti se Suraksha).
- Energy bridges:
- Both sides strive to build an “Energy Bridge” by having energy cooperation in all areas including nuclear, hydrocarbon, hydal and renewable energy sources.
- Exploration of Arctic shelf: India is interested in launching joint projects on exploring Hydrocarbons in the Arctic shelf of the Russian Federation.
- Economic ties:
- Diversification (High Technology Products): The two sides should diversify their trade in goods and services with special focus on high technology products.
- Investment target: India and Russia are close to achieving the target of 30 billion US dollars worth of investment by 2025.
- Eurasian Economic Union: The two sides will commence discussions on a Free Trade Agreement between the Eurasian Economic Union and the Republic of India.
- Startups: PM Modi mentioned the “bridge to innovation” to promote startups and entrepreneurship
- Strategic ties
- Joint exercises: The two countries will hold the first tri-Services exercises, named ‘Indra-2017,’ in 2017.
- Defence production: The two sides have decided to jointly produce Kamov 226 helicopters and frigates.
- Cooperation on International issues:
- Asia Pacific region: To build well-balanced security architecture in the Asia Pacific region, the two sides have decided to develop a relevant dialogue in the framework of the “East Asia Summit”.
- Afghanistan: The two sides have decided to coordinate for achieving national reconciliation in Afghanistan.
- UN: Russia reiterated its support for India’s candidature for a permanent seat in a reformed United Nations Security Council.
- Export control regimes: Russia reiterated its support for India’s earliest admission to the export control regimes namely Nuclear Suppliers Group and the Wassenaar Arrangement.
- Cultural ties
- There exists deep awareness of Yoga and Ayurveda in Russia.