The volume of trade between Russia and India exceeded $9 billion past year and is set to grow further with the nations aiming to boost trade and encourage investments, according to Russian President Vladimir Putin.
Besides the S-400 deal, India and Russian Federation are also expected to sign a number of crucial energy deals. "I am very happy that you have assured full cooperation of Russian Federation in this mission", Mr. Modi said. It fulfills a certain defence requirement for India and the government has taken the decision in the national interest, " the source said. India's purchasing of the Russian weapons system effectively forces the Trump administration to choose between punishing Delhi - and destroy the fledgling defense relationship - or granting the country an exemption, weakening the effect of the sanctions and opening up the United States to accusations of favoritism.
Deputy Director of the Asia Programme and South Asia senior associate, The Wilson Centre, Michael Kugelman tells OneIndia that Putin visit itself will not affect US-India ties in a big way.
Stating that the intent to slap sanctions on Russian Federation was to impose costs for its "malign behaviour", the USA also made it clear that any waiver will be considered on a transaction-by-transaction basis, adding it can not prejudge any sanctions decisions.
Russian President Vladimir Putin shakes hands with India's Prime Minister Narendra Modi ahead of their meeting at Hyderabad House in New Delhi, India, on October 5, 2018.
The president of state-run Russian bank VTB, Andrei Kostin, said in Delhi on Friday that the two countries aimed to triple the two-way flow of goods and services to $30 billion.
The contract is estimated to be worth more than $5.43 billion (Rs 40,000 crore) deal and gives the Indian military the ability to shoot down aircraft and missiles at unprecedented ranges.
The US is in a hard position as it seeks to contain China through better ties with India, which like Washington has been unnerved by Beijing's growing assertiveness. During the 19th annual summit, Modi and Putin discussed ways to boost the strategic partnership in key areas, including defence, counter-terrorism, energy and space.
Experts fear India is flexing its military muscles as Mr Modi stands up to China's People Liberation Army and Beijing's influence around the Indian Ocean.