India is the guest country at the Eastern Economic Forum 2019. Indian Prime Minister Narendra Modi will be in attendance. Experts predict that mutual investments between Russia and India will exceed USD 30 billion in the next six years, primarily through cooperation in the military-industrial complex (MIC) and nuclear energy. India is already the largest buyer of Russian arms.
Late last year, the two countries signed a series of major contracts, including an agreement for the delivery two Talwar-class frigates worth USD 1.2 billion. India will construct another two such frigates using Russian blueprints at its own Goa Shipyard Limited. India is a repeat buyer of Russian aircraft and air defence missile systems. The Russian portfolio of orders for the delivery of military hardware to India is currently worth approximately USD 14 billion.
It is worth noting that military tech cooperation between the two countries is built on an industrial technological model Russia does not just supply finished hardware, it also shares technologies. For 20 years now, JV BrahMos Aerospace has been producing supersonic cruise missiles, JV Indo-Russian Rifles Private Limited (IRRPL) has been producing automatic rifles on the unique Kalashnikov rifle platform, and a newly created JV will supply the local market with Ka-226 light helicopters.
One of the largest Russian-Indian investment projects is the construction of the Kudankulam (Clean Well) Nuclear Power Plant, powered by Russian reactors. Rosatom plans to construct a total of 12 reactor units with an individual capacity of 1000 MW.
For more information on cooperation between Russia and India, read the article Indian Record in EEF 2019 Magazine.