India and Russia Ink Key Agreements for Kudankulam Nuclear Power Plant Expansion

External Affairs Minister S Jaishankar announced the signing of significant agreements with Deputy Prime Minister Denis Manturov, focusing on the construction of future power units for the Kudankulam nuclear power plant. The announcement came during Jaishankar's five-day visit to Moscow for bilateral economic cooperation discussions, as Prime Minister Narendra Modi opted out of the annual summit for the second consecutive year.

The Kudankulam nuclear power plant, situated in Tamil Nadu and constructed with Russia's technical assistance since March 2002, reached its initial capacity of 1,000 MW in February 2016. It is projected to achieve full operational capacity by 2027. Jaishankar highlighted the comprehensive progress in trade, finance, connectivity, energy, civil aviation, and nuclear cooperation during his meeting with Manturov.

The External Affairs Minister expressed appreciation for the increased focus on exploring new opportunities and discussed the need for a more balanced and sustainable cooperation. Agreements were finalized for cooperation in the Russian Far East, and plans were made for early meetings between EaEU-India FTA negotiators. Jaishankar mentioned witnessing the signing of agreements related to nuclear power and collaboration in medicines, pharmaceutical substances, and medical devices.

Addressing concerns about payment issues between Russia and India, Jaishankar acknowledged an unusual situation and efforts to find solutions for banking interactions. He encouraged those with existing banking relationships to educate others about reliable banks and safe routes for conducting business with Russia. Jaishankar is scheduled to meet Russian counterpart Sergey Lavrov on Wednesday to discuss various bilateral, multilateral, and international issues.