Modi, Putin vow to boost cooperation in oil, natural gas sector

Xiamen: Prime Minister Narendra Modi on Monday held talks with Russian President Vladimir Putin and discussed ways for boosting bilateral trade and investment, especially in the oil and natural gas sector.
The two leaders met in this southeastern Chinese city on the sidelines of the BRICS Summit.
"The two sides basically touched upon several aspects of the bilateral relationship. President Putin recalled prime minister's visit to Russia earlier this year. And, he thanked the prime minister for high-level participation from India at the Eastern Economic Forum," External Affairs Ministry spokesperson Raveesh Kumar told reporters at a briefing here.
He said that during the Modi-Putin meeting several bilateral issues were discussed like the cooperation in the oil and natural gas sector. Kumar said the two leaders also discussed how they should work together to promote trade and investment.
During the meeting, the two leaders also discussed cultural exchanges.
"President Putin mentioned about the 'Festival of India', which was organised in Russia earlier this year.
Discussions also took place on the promotion of tourism between the two countries and also on the student exchange between the two sides," Kumar said.
Prime Minister Narendra Modi on Monday also met Brazilian President Michel Temer and discussed a partnership based on a "common global vision". The two leaders met in this southeastern Chinese city on the sidelines of the ninth BRICS Summit.
"A partnership based on a common global vision & shared democratic values. PM @narendramodi engages with brazilian President @MichelTemer," External Affairs Ministry spokesperson Raveesh Kumar tweeted.
During the last BRICS Summit in Goa in October, Modi and Temer held a similar bilateral meeting with Temer.
Meanwhile, asserting that affordable and sustainable access to energy is crucial for the growth of the BRICS nations, Prime Minister Narendra on Monday called on the member countries to work closely with the International Solar Alliance to strengthen the solar energy agenda.
In his intervention at the plenary session of the 9th BRICS Summit in Xiamen, Modi noted that climate resilient development calls upon the nations to utilise all available resource streams.
"Renewable energy is particularly important on multiple counts. BRICS countries can work closely with International Solar Alliance (ISA) to strengthen the solar energy agenda.
Our five countries have complementary skills and strengths to promote use of renewable and solar energy," Modi said.
The ISA was launched by India and France in November 2015 and aims to bring together a coalition of 121 countries for mutual gains through enhanced solar energy utilisation.
Modi said the New Development Bank under the BRICS grouping can also establish an effective link with ISA to support such cooperation.
"Our five countries have complementary skills and strengths to promote use of renewable and solar energy. The NDB can also establish an effective link with ISA to support such cooperation and we would wish to see more clean energy funding, particularly in solar energy, from the NDB," Modi said.