The aim of the MoU is to cooperate and undertake joint projects and operations for defence systems
India's defence purchases from the United States have reached $17 billion since 2007 as it has pivoted away from traditional supplier Russia
Prime Minister Modi and President Putin held a bilateral meeting on the margins of the BRICS Summit on Wednesday and they reviewed the progress made in the bilateral ties
President Putin reiterated the invitation to Modi to visit Moscow to participate in the Victory Day celebrations next year, which the prime minister gladly accepted
$12 billion of Make In India projects in hand, Moscow eyeing $25 billion more
During their joint address to the media, President Putin said Russia has been a reliable partner to India in the field of defence for the last five decades
The arrangement would enable India to pay the first installment soon for two warships that Russia is building for its navy, said sources
Russia was India's biggest supplier from 2014-18; deals worth $15 billion more in pipeline