The two governments have jointly developed an economic strategy that includes the use of a number of economic components to increase future bilateral trade. These include the development of a free trade agreement between India and the EU, a bilateral agreement on investment promotion and protection, a new economic planning mechanism integrated into IRIGC, the simplification of customs procedures, new long-term agreements to expand trade in energy, including nuclear, oil and gas. [45] [46] Finally, long-term supplier contracts in key sectors such as oil, gas and rough diamonds. Companies like Rosneft, Gazprom, Essar & Alrosa will act as long-term suppliers. [46] On November 7, 2009, India signed a new nuclear agreement with Russia, previously concluded by both countries. [102] India and Russia discuss the construction of two more nuclear power plants at Kudankulam. Two units at the Kudankulam nuclear power plant are already in operation. During Russian President Vladimir Putin`s visit to India for the 13th annual summit, a cooperative civilian roadmap for nuclear power was agreed. By 2030, sixteen to eighteen new reactors with an installed capacity of 1,000 MW each will be built. A 1,000 MW reactor costs about $2.5 billion, so the deal could reach $45 billion.

[103] Founded in 1965, the Rossotrudnichestvo Representative Office (RRO) has five Russian Science and Culture Centers (RCSC) in India, including New Delhi, Mumbai, Kolkata, Chennai and Trivandrum. [98] The director of the RRO and director of the RCSC, Fyodor Rozowski, expects cultural relations between the two countries to multiply. [98] He and other officials also expect the number of Indian students studying in Russia to increase as soon as the two countries sign an agreement on the joint recognition of university degrees. [99] [100] [101] There is a Hindi department at Moscow University as well as five chairs of Indology in Moscow, St. Petersburg, Kazan and Vladivostok. The first major political initiative since the collapse of the Soviet Union between India and Russia began with the strategic partnership between the two countries in 2000. . . .