The decisions were taken during talks between Prime Minister Narendra Modi and Russian President Vladimir Putin that covered a wide range of areas including defence.
Amid India's growing defence ties with the US and the Europe, Modi asserted that Russia will remain India's major defence and strategic partner.
The most critical deal signed today was the Inter Governmental Agreement for the purchase of S-400 long-range air defence missile system which has the capability to destroy incoming hostile aircraft, including stealth, besides missiles and drones at ranges of up to 400 km.
India plans to deploy three such systems along the border with Pakistan and two along the border with China.
More From This Section
Sergei Chemezov, CEO of Rostech State Corporation, Russia umbrella organisation encompassing over 700 high-tech companies including all military firms, said that the contract negotiations for the air defence systems will start now and it is hoped that it will be formalised by mid next year.
Speaking to a select group of journalists, Chemezov said that if all goes well the system will start getting delivered to India in 2020.
Sources said that each system, having eight launchers, a control centre, radar and 16 missiles as reloads, would cost over USD one billion each.
It is capable of firing three types of missiles, creating a layered defence, and simultaneously engaging 36 targets. It can hit targets at a speed of 17,000 km an hour. This is faster than any aircraft in the world.
Another important deal is for four Admiral Grigorovich-
class (Project 11356) guided-missile stealth frigates which is in furtherance to the six Talwar-class frigates that Russia built for the Indian Navy between 2003 and 2013.
India and Russia also signed a USD one billion worth agreement for creation of the joint venture to jointly produce Kamov 226T helicopters that will replace the country's aging Cheetah and Chetak choppers.
While 40 of these choppers will be brought to India off the shelf, another 20 will be brought down as knocked down versions. Rest of the helicopters will be made in India.
The joint venture will become a pilot project for the Russian-Indian part of the Make in India programme.
"But this is the first of such large-scale complex agreements for delivery and production of new helicopters in the amount of 200 units, which is fully in line with the Make in India initiative," Chemezov said.
He added that in addition, over the next five years there will be facilities set up for maintenance and servicing of the produced helicopters.
"Therefore the agreement presents not just production but a full-lifecycle contract," he said.
The joint venture is set to create also facilities for the overhaul within 7 years after deliveries of the first batch of helicopters.
The Kamov helicopters are capable of operating at heights of 20,000 feet and once inducted will take over the role of maintaining the forward posts on the Siachen glacier.
The three deals are worth USD 6.5 billion or Rs 43,000 crore.