New Delhi: India and Russia on Monday decided to accelerate their economic ties and agreed to factor in New Delhi's liability concerns in their techno-commercial negotiations for units III and IV of the Kudankulam Nuclear Power Plant.

"We discussed the preparatory work for units III and IV. A techno-commercial agreement is being negotiated," External Affairs Minister SM Krishna told reporters after talks with Russian Deputy Prime Minister Dmitry Rogozin.

"I have no doubt that we will arrive at a mutually satisfactory result," Krishna said.

Krishna was responding to a question on the progress on units III and IV of the Kudankulam Nuclear Power Plant, which is embroiled in differences over perceptions over India's civil nuclear liability.

"We see a growing role for Russia in the development of nuclear plants in India," Krishna said at a joint press conference. Both Krishna and Rogozin agreed to step up trade and investment and shared the perception that the economic ties between the two countries are much below potential.

"We have the will to pursue the relationship and add economic content to the relationship," Krishna added.

Talks between Krishna and Rogozin helped in finding a way forward on units III and IV of the KNPP, which have been bogged down in sharply differing perceptions over India's civil nuclear liability law.

Rogozin had said here on Sunday that if there are issues that require additional assurance, then it will require additional money, indicating that the price of these reactors may have to be renegotiated.

(Agencies)

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