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Manmohan Singh and Putin forge ahead with strong defense and energy ties
Indian Prime Minister Manmohan Singh and Russian President Vladimir Putin brought India and Russia closer to each other in defense and energy related cooperation during a meeting on the sidelines of the Victory Day celebrations here on Monday.
Both of them agreed on a pact to boost cooperation in the joint development and marketing of hi-tech defense hardware and Indian investments in Russia's oil and gas industry.
India pressed for the early finalization of a pact to facilitate the issuance of visas to Indian businessmen. Officials said the delay in issuing business visas was an "irritant". Russia promised to look into the matter and correct the situation.
India also agreed to protect Russian intellectual property matters especially as it pertains to Russian hardware in Indian military.
According to some media reports, Indian Ambassador Kanwal Sibal said on Sunday that Indian firms were keen on making investments that could run into "a few billion dollars" in Russian gas and oil fields. India has so far invested $1.7 billion in the Sakhalin-I field.
Other areas for cooperation include IT, where Putin has said Russia needs to emulate India's successes.
Manmohan Singh is one of the select group of world leaders with whom Putin will hold bilateral meetings on the sidelines of the Victory Day celebrations. Putin met US President George Bush on Sunday.
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