A joint statement adopted following the talks said the parties were working on increasing bilateral commodity turnover to $10 billion from the current $3 billion by 2010.
"By preliminary estimates, [commodity turnover] grew 20% in 2006, and our task is to expand business interaction and look for new effective models of cooperation," Russian leader Vladimir Putin said after meeting with Manmohan Singh.
He said progress had been made in fuel and energy cooperation, as crude deliveries from Russia's huge Sakhalin-I project in the Far East to India began in December 2006.
The president said Russian companies were ready to assist in the construction of oil and gas production and transportation facilities in India and adjacent territories.
Russia agreed to build four more nuclear reactors for India's Kudankulam nuclear power plant in the southern province of Tamil Nadu and other plants, in addition to the two units already under construction.
India's National Thermal Power Corporation and a Russian-Indian consortium signed an agreement on the technical and commercial terms of a contract to build hydropower facilities in the northern state of Uttar Pradesh.
The consortium, comprising Russia's Zarubezhvodstroi and Indian industrial group SSJV, won an international tender to implement the $250 million Tapovan hydropower project within 44 months.
Russia's state-run Vnesheconombank (VEB) signed a three-party agreement with Russian company Tekhnokhim Holding and India's Saraf Agencies Private Ltd. on establishing a chemical and technological complex in east India.
The agreement, signed as part of Putin's visit, aims to establish a strategic partnership and develop long-term, effective and mutually advantageous cooperation within the framework of a joint Russian-Indian venture.
"This will be a science-intensive integrated chemical and metallurgical complex to produce titanium dioxide and other titanium products on the territory of India (in the state of Orissa) as a core enterprise within a special economic zone," the document says.
Russia's share in the joint venture is expected to be 55%.
"For the needs of Russian consumers, the joint venture plans to supply 30,000 tons of titanium dioxide and up to 45,000 tons of titanium slag a year," the document says.
Russia and India also signed two cooperation agreements on global space navigation system Glonass, a Russian version of the U.S. Global Positioning System (GPS).
The system is designed for both military and civilian purposes, and allows users to identify their positions in real time. It can also be used in geological prospecting.
