"Both leaders will discuss their respective national developmental priorities and bilateral matters", the statement said.
Speaking in Sochi, Putin said the new systems unveiled this year will significantly increase Russia's military capabilities and "ensure a strategic balance for decades". Since the beginning of 2018, they have had several phone conversations.
While India and Russian Federation hold an annual bilateral summit every year, this is apart from that but is an initiative to create an atmosphere to look at broader perspective. By the end of 2017, India was Russia's 17th major trade partner, accounting for 1.6% of the entire trade turnover. The global flux underway has placed the USA and Russian Federation as strategic threats to each other.More news: Korea economically if it gets rid of nuclear weapons
The two leaders to exchange views on global matters in a broad& long-term perspective with the objective of further strengthening Special and Privileged Strategic Partnership.
MEA sources said the first informal summit between Modi and Putin was in keeping with the tradition of regular consultations between India and Russian Federation at the highest level.
The meeting between the two world leaders comes as a surprise as both Modi and Putin are set to meet quite a few times this year.More news: Internet divided over 'Yanny or Laurel' video clip
A statement issued by the Ministry of External Affairs said that the visit is taking place at the invitation of President Putin.
This could include the United States decision to withdraw from the Iran nuclear deal in which Russian Federation remains invested; India's perceived pro-US tilt, evident from the decision to play ball with the Washington-led quadrilateral in the Indo-Pacific; and Moscow's growing engagement with Pakistan.
India is understood to have conveyed to Moscow its strong support given the current geopolitical situation. During that meeting PM Modi praised Putin. "All this allows us to closely interact and coordinate our approaches in the United Nations and various military and political security mechanisms in the Asia-Pacific region", Lavrov had said.More news: Multiverse Beckons Hospitability to Life