Modi on twitter greeted Putin, who arrived here early Saturday morning, saying: "India welcomes you, President Putin! Wishing you a fruitful visit. @KremlinRussia_E."
Putin later on Saturday will participate in an India-Russia bilateral meeting and the BRICS Summit, which is scheduled to take place at a south Goa resort here.
Putin is expected to sign agreements on a wide range of issues ranging from defence to agriculture.
The President has been accompanied by top bureaucrats from the Defence, Energy, Trade and Industries ministry.
Modi and Putin via video conference will also participate in foundation-laying ceremony of the third and fourth power units at the Kundakulam nuclear power plant.
The two leaders are expected to hold discussions over lunch and issue a formal statement to the media following the summit.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)