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Development of military technical cooperation was a major focus of the Russian-Indian talks. Mr Medvedev said the primary objective in this sector is to move from the traditional sale and purchase of equipment to joint development and production.

Cooperation in the energy sector was another important item on the agenda. The two countries confirmed the importance of developing and making full use of the potential for cooperation in the oil and gas sector. An intergovernmental agreement on the construction of new energy production units at the Kudankulam Nuclear Power Plant and Russian-designed nuclear power plants at new sites in India was also signed.

At this time of global financial crisis, Russia and India place great importance on cooperation within the BRIC (Brazil, Russia, India, China) group. Moscow and Delhi are confident that the meeting of BRIC foreign ministers in India and the first BRIC summit that will take place in Russia next year will play an important part in establishing a promising mechanism for cooperation between the world’s four fastest-growing big economies.