Russia plans over $10 bn deals with India

Russia plans to sign over $10 billion worth of deals with India during the visit of Prime Minister Vladimir Putin later this week,Putin’s deputy,Sergei Sobyanin,said.

The deals will range from contracts for the joint design of a fifth-generation fighter jet and production of multi-purpose transport planes to agreements to supply Russian mineral fertilisers and build new nuclear reactors.

“I believe the overall volume of trade and economic agreements will exceed $10 billion,” Sobyanin,who chairs the Russian-Indian inter-government commission,said in comments e-mailed on Wednesday.

He also said Indian energy firm ONGC had expressed interest in participating in the development of oil and gas fields on the Yamal peninsula in the Russian Arctic.