Top Indian companies, including Tata Sons, Reliance Industries, Dr Reddy''s Laboratories and ONGC Videsh are among several government and private entities which have signed 30 agreements with Russian counterparts, on the margins of India-Russia summit here.
Prime Minister Manmohan Singh and Russian President Dmitry Medvedev held their annual summit level talks covering a range of subjects, including trade enhancement and opening of investment ties.
Reliance Industries has signed a joint venture agreement with Sibur, a Gazprom subsidiary for setting up a butyl rubber in Jamnagar. It envisages transfer of Russian technology for the project.
The MoU between Tata Sons and Skolkovo Foundation involves joint research and development in high-tech innovation in the field of communication and information technology.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, signed initial agreements to barter its stake in its Russian unit Imperial Energy for acquiring a 25-30 per cent interest in Sistema-owned JSC Bashneft.
"OVL signed a Framework Agreement on Cooperation in Hydrocarbon Sector with Sistema, the largest diversified public financial corporation in Russia and CIS," the company said in a statement.
The agreement between Hyderabad-based Dr Reddy''s Laboratories and JSC ''R-Pharm'' envisages technology transfer, manufacturing and marketing of pharma products.
In another transaction,the Russian government paid USD 600 million (about Rs 2,714 crore) to acquire about 17 per cent stake in Sistema Shyam Teleservices Ltd (SSTL), a joint venture between Russian giant Sistema and India''s Shyam group.
"As a part of previously announced transaction the Russian government completed the payment for shares of SSTL," the CDMA services provider said.
Sistema, leading public diversified corporation in Russia and the CIS region, has a 74 per cent stake in the joint venture with the Shyam Group.
The Russian government will acquire the stake from Sistema, which will issue fresh shares.
also entered into an agreement with Russian IT firm JCS Sitronics, a subsidiary of Sistema, for distribution and marketing their products in various markets.