India, Russia ink pacts on construction of future power generating units of Kudankulam nuclear plant

The Kudankulam nuclear power plant is being built in Tamil Nadu with the technical assistance of Russia. The construction began in March 2002. Since February 2016, the first power unit of the Kudankulam NPP has been steadily operating at its design capacity of 1,000 MW. The plant is expected to start operating at full capacity in 2027, according to Russian state media.

During the meeting, Jaishankar noted the significant progress in trade, finance, connectivity, energy, civil aviation and nuclear domains. "Appreciated the greater focus on exploring new opportunities. Discussed making our cooperation more balanced and sustainable in different dimensions," he said in a post on X.

In his address to the Indian community, Jaishankar described Russia as a "special partner" in a few areas such as defence, nuclear power and space. "Collaborations are done in areas of defence, space and nuclear

Jaishankar also said the two sides have agreed that their negotiating teams will meet by the end of January to start in-person negotiations on the free trade agreement between India and the Eurasian Economic Zone.

"Today, when I met the Prime Minister we agreed that early next year, our negotiating teams will meet. So I expect by the end of January, hopefully, that the in-person negotiations will start," he said while responding to questions at the community event.

"Finalised the program of cooperation on the Russian Far East. Expect to hold an early meeting of EaEU-India FTA negotiators. Will jointly organize connectivity events across land and maritime corridors," he later posted on X.

"If one looks at our economy, influence, and impact on the world today, it is very different from 10 years ago and will be different 10 years later. We went on from the 10th largest economy a decade ago, to be the 5th largest now and will hopefully be the 3rd largest and beyond that, later,” Jaishankar said.

Responding to a question on the payment problem between Russia and India, the minister said that in an unusual situation, we are trying to find ways by which banks deal with each other.

"People are unclear what is happening...If you don't have a full picture or you don't have confidence people hold back. Those who have banking relationships, do business with Russia can educate people about good banks, safe routes," he said. "We have been trying to find a solution regarding the payment problem," he said.

On Wednesday, the Indian foreign minister will meet his counterpart, Sergey Lavrov, to discuss bilateral, multilateral, and international issues.

"I'm very sure that this relationship will only grow from strength to strength. And I think even in the last few years, I see, frankly, for example, a greater Russian focus on Asia. I think that is partly one reason why our trade has grown so much in the last two years," he added.

He appreciated the Indian community's contribution to building a strong and steady collaboration between India and Russia.

"The Special and Privileged Strategic Partnership reflects experiences and sentiments of the last 75 years. Urged the community to contribute to the deepening of mutually beneficial cooperation. Their role in promoting close ties between our civil societies is invaluable. An Atmanirbhar Bharat will deepen ties with Russia in a multipolar world," he later posted on X.

Jaishankar also visited the Russian Industry and Trade exhibition with Manturov. "An interesting exposition on Russia’s contemporary capabilities. Holds promise for greater collaboration between our two countries," he said.

The ties between India and Russia remained strong notwithstanding Moscow's invasion of Ukraine. India has not yet condemned the Russian invasion of Ukraine and it has been maintaining that the crisis must be resolved through diplomacy and dialogue.

India's import of Russian crude oil has gone up significantly despite increasing disquiet over it in many Western countries.