Russia has offered Indian oil companies a stake in the second phase of Yamal LNG, the biggest project to produce liquefied natural gas in the Arctic. Petronet LNG, IndiaÂ´s biggest natural gas importer, is studying the offer, while other state-owned firms like Indian Oil Corp (IOC) may join in later.
India will not be wrapping the deal on Koodankulam 3 and 4 Energy pact with Russia.
Instead the country will push for an energy pact with Russia that could see a parallel twin gas and oil pipeline bringing energy overland into India. Indian Prime Minister Manmohan Singh arrived in Moscow on a two-day visit for the 14th India-Russian annual summit at the invitation of President Vladimir Putin on October 20.
In a move to slash cost of aircraft production India and Russia are planning production of two types of commercial aircraft in India. The move is expected to cut down the cost of aircraft production by 40 per cent, say media reports. Both the countries eye possible production of Russia's Superjet 100 regional airliner and a future Irkut MS-21 jetliner on the territory of India.
Indian Railways, by carrying 100 million tonne cargo in March, has entered the select group of countries such as the US, China and Russia that load a billion tonne of cargo in a year. It is the second time for Indian Railways to carry such a large volumes in a month.
At the recently concluded BRICS summit in Durban, Brazil, Russia, India, China and South Africa decided to set up a development bank to finance infrastructure projects in these countries. But the countries have not decided the size of the proposed bank, leaving it to finance ministers to nego