India had signed a US dollar 5.43-billion deal with Russia for the purchase of five S-400 systems ( Photo: PTI)
Russian Deputy Prime Minister Yuri Borisov on Sunday said in strict accordance with the schedule, the S-400 air defence missile systems will be delivered to India. "The advance payment has been received and everything will be delivered in strict accordance with the schedule, within about 18-19 months," Yuri Borisov told state-owned broadcaster Rossiya-1.
Last month, External Affairs Minister S Jaishankar was in Moscow to meet his Russian counterpart Sergey Lavrov to discuss ways to further advance bilateral cooperation.
India had signed a USD 5.43-billion deal with Russia for the purchase of five S-400 systems during the 19th India-Russia Annual Bilateral Summit in New Delhi on October 5 last year for long-term security needs.
Last week, Prime Minister Narendra Modi said India will walk shoulder-to-shoulder with Russia deepening the bond between the two countries. Giving the formula of 1+1=11, PM Modi said that the coming together will give a boost to development in both countries Addressing the plenary session of the 5th Eastern Economic Forum here, prime minister Modi said the friendship between India and Russia was not restricted to governmental interactions in capital cities, but was about people and close business relations.
PM Modi, in the presence of Russian President Vladimir Putin, unveiled the "Act Far East" policy to boost India's engagement with Russia's Far East region. The prime minister announced a USD 1 billion (more than 700 crore rupees) line of credit for the development of the resource-rich Far East region of Russia.
PM Modi appreciated the vision of Putin for the welfare for Russia's Far East, saying the President has opened up investment opportunities for India in the region.
"It is clear that President Putin's vision is in line with the development of the people of this region. It is similar to our vision of Sabka Saath, Sabka Vikaas," said PM Modi.
Prime Minister Modi also emphasised on India's commitment to become a five trillion-dollar economy by 2024.