Visiting President Vladimir Putin said India is Russia's foreign policy priority while Prime Minister Narendra Modi said Russia is our most important defence partner, amid this bonhomie, both countries inked 20 agreements in the field of energy, oil and gas, diamonds, military training, health and other sectors.
However, what has added more content to the partnership is the collaboration in sensitive technologies.
The Russian President announced that Moscow is looking forward to joint development of multi-functional jet fighters and multi role transport aircrafts with India.
Russia will also help in building 20 nuclear plants in India.
"We signed a very important agreement called strategic vision for strengthening Russia-India cooperation for peaceful uses of nuclear technology. It outlines the plan to construct more than 20 nuclear power units in India and to cooperate in constructing nuclear power plants with third countries according to Russian designs," said Putin.
"This is another stride in our cooperation," he added.
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Putin also expressed Russia's intent to build the second unit of Kudankulam.
The Indian side has agreed to expeditiously identify a second site, in addition to Kudankulam, for the construction of the Russian-designed nuclear power units in India.
Russia has also offered to fully manufacture in India one of its most advanced helicopters, which can be used for both military and civilian purposes.
After BrahMos missile development, the joint helicopter manufacturing will be the first of its kind joint defence venture project between India and Russia.
This is likely to give a major boost to Prime Minister Modi's 'Make in India' project.
India and Russia also signed a joint statement named 'Druzhba-Dosti', that is, friendship.
"India and Russia will expand their cooperation in science and technology, industry, localization of equipment and spares, uranium mining, fabrication and supply of nuclear fuel, management of spent fuel and in other aspects of the nuclear fuel cycle," says the joint statement.
India and Russia also agreed to study the possibilities of building a hydrocarbon pipeline system, connecting the Russian Federation with India.
Russia also assured India to facilitate consultation in creating India's special relationship with Eurasian economic union which takes shape from 2015.