India and Russia Sign Agreements for Future Power Units at Kudankulam Nuclear Plant, Confirms Jaishankar

On Tuesday, External Affairs Minister S Jaishankar announced the signing of "some very important" agreements between India and Russia, focusing on the construction of future power generating units at the Kudankulam nuclear power plant in Tamil Nadu. The announcement was made during Jaishankar's five-day visit to Russia, where he engaged in meetings with Russia's leadership.

During a community address, Jaishankar stated, "Today, in my presence and that of Deputy Prime Minister (Denis) Manturov, we signed some very important agreements pertaining to the future units of the Kudankulam nuclear project."

The Kudankulam nuclear power plant, with technical assistance from Russia, has been under construction in Tamil Nadu since March 2002. The first power unit began operating at its design capacity of 1,000 MW in February 2016, with expectations for the plant to operate at full capacity by 2027.

Jaishankar emphasized the significance of Russia as a "special partner" in key areas such as defense, nuclear power, and space. He highlighted that collaborations in these areas are established with countries that share a high level of trust.

Addressing economic matters, Jaishankar revealed that negotiating teams from both countries are set to meet by the end of January to commence in-person negotiations on the free trade agreement between India and the Eurasian Economic Zone.

Reflecting on India's economic progress, Jaishankar stated, "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."

Responding to concerns about the payment problem between Russia and India, Jaishankar acknowledged the challenges in an unusual situation and expressed efforts to find solutions. He encouraged those with banking relationships and experience in doing business with Russia to educate others about trustworthy banks and safe routes.

On Wednesday, Jaishankar is scheduled to meet his Russian counterpart, Sergey Lavrov, to discuss bilateral, multilateral, and international issues. Despite Moscow's invasion of Ukraine, the ties between India and Russia have remained strong, with India advocating for a diplomatic resolution to the crisis.

India's increased import of Russian crude oil, despite concerns in Western countries, underscores the enduring economic relationship between the two nations. Jaishankar expressed confidence in the continued growth of the relationship, citing a greater Russian focus on Asia and the consequent growth in trade over the past two years.

HBL