Prime Minister Narendra Modi on Friday held bilateral talks with Russian President Vladimir Putin on the sidelines of the16th Shanghai Cooperation Organisation (SCO) summit here.

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President Putin said India is a special and privileged partner, asserting that there is a long standing friendship between both the nations.

Earlier in the day, India formally joined the SCO after signing a Memorandum of Obligation and became a full member of the group.Putin also welcomed India signing the Memorandum of Obligations of the SCO and looked forward to India`s chairmanship of BRICS, which has grown in influence.

Modi on his part thanked Russia for its support in SCO and said India as BRICS chair would keep up the momentum generated by Russia. During the meeting, both the leaders discussed cooperation in civil nuclear energy, partnership in the gas and petrochemicals sector and space sector. 

During the course of the meeting, matters relating to trade and investment also came upThe two heads recalled old cultural connections and agreed to find ways of further invigorating cultural ties.

"Final meeting of the day in Tashkent with a trusted partner of India. PM @narendramodi meets with President Putin," External Affairs Ministry spokesperson Vikas Swarup tweeted.

After holding talks with Putin, Modi paid floral tribute at the bust of former prime minister Lal Bahadur Shastri.

Modi, who arrived here on Thursday on a two-day visit, also held bilateral meetings with Tajikistan President Emomali Rahmon and Belarus President Alexander Lukashenko.