Russian President Vladimir Putin and Indian Prime Minister Narendra Modi signed pact worth $ 5.43 billion (Rs. 40,000 crore) deal for five advanced S-400 Triumf surface to air missile. India is likely to buy four defence systems from Russia.
The deal has been signed despite the threat of US financial sanctions. S- 400 has the capability to track and destroy the militants tactical bombers, jet, missiles and drones at a range of 380 kms.
Along with this, both the countries have signed Space coopertaion deal. As per the deal, India will set up its own space monitoring station at Siberia.
The global leaders will also discuss a number of key global and regional issues, including US sanction on Iranian crude oil. India and Russia will sign around 20 agreements including crucial energy deals.
Russian President Putin arrived at Hyderabad House for the two day annual summit, he was welcomed by PM Narendra Modi. After the meeting he will head towards Rashtrapathi Bhavan to meet Indian President Ramnath Kovind.