Marking 70 years of diplomatic ties, India and Russia on Thursday signed the St Petersburg Declaration - an action plan for deepening not only political and economic development of the two countries but also to ensure a benchmark of stability in times of global instability. The Declaration was signed following the annual bilateral summit between Prime Minister Narendra Modi and Russian President Vladimir Putin.
Stating that the economies of India and Russia complement each other in the energy sector, it said that they would "strive to build an 'Energy Bridge' between our states and expand bilateral relations in all areas of energy cooperation, including nuclear, hydrocarbon, hydel and renewable energy sources and in improving energy efficiency".
It said both countries have noted that wider use of natural gas, an economically efficient and environmentally friendly fuel, which has become an integral part of the global energy market, was highly significant for reducing greenhouse gas emissions.
"Cooperation in the peaceful uses of nuclear energy has emerged as one of the hallmarks of the strategic partnership between the two countries, contributing to India's energy security and energizing broader scientific and technological cooperation," said the declaration.
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Stating that the economies of India and Russia complement each other in the energy sector, it said that they would "strive to build an 'Energy Bridge' between our states and expand bilateral relations in all areas of energy cooperation, including nuclear, hydrocarbon, hydel and renewable energy sources and in improving energy efficiency".
It said both countries have noted that wider use of natural gas, an economically efficient and environmentally friendly fuel, which has become an integral part of the global energy market, was highly significant for reducing greenhouse gas emissions.
"Cooperation in the peaceful uses of nuclear energy has emerged as one of the hallmarks of the strategic partnership between the two countries, contributing to India's energy security and energizing broader scientific and technological cooperation," said the declaration.
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