Vladimir Putin visits to India $2 billion investment fund Finalised 10 agreements Two military contracts, worth about Rs. 20,000 crore Some issues of disagreement also there To take the initial steps towards operating a “ranging station” that will help accurately fix the location of satellites. Equity participation through ONGC-OVL On Russian president Vladimir Putin’s visit to India, both nations moved further to strengthen their economic relations by inking a pact on a Kremlin-backed $2 billion investment fund and consenting to open talks on a Comprehensive Economic Partnership Agreement (CEPA) that will also involve Belarus and Kazakhstan. At the 12th annual summit, the two countries finalised 10 agreements. Among them were two military contracts, worth about Rs. 20,000 crore.

To encourage investments b/w the two nations, India’s State Bank of India (SBI) and Russian sovereign wealth fund Russian Direct Investment Fund (RDIF) came together to ink an MoU for setting up a$2 billion investment consortium. Both the groups would invest up to $1 billion each in the consortium.