The protocol was signed near the Russian town of Vladivostok, where the exercise is proposed to be held between October 19 and 29.
So far, Indian and Russian armies, navies, and air force have been holding separate bilateral exercises.
It is for the first time that a tri-services exercise will be held by defence forces of the two countries, which have shared close military ties for decades.
Around 350 soldiers from the Indian Army, a stealth frigate and anti-submarine warfare corvette of the Indian Navy, and aircraft from the Indian Air Force will participate.
It comes at a time when India and China disengaged from a stand-off of 75 days at Doklam in the Sikkim Sector, which began on June 16, and there has been increased presence of Chinese submarines and warships in the Indian Ocean.
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