New Delhi, Oct 5 (IANS): India and Russia on Friday concluded the much expected deal for the S-400 Triumf air defence missile system following the annual bilateral summit between Prime Minister Narendra Modi and Russian President Vladimir Putin.

"The sides welcomed the conclusion of the contract for the supply of the S-400 Long Range Surface to Air Missile System to India," a joint statement issued following the meeting said.

It said both sides reaffirmed their commitment to enhance their military technical cooperation, which has a long history of mutual trust and mutual benefit.

"Both sides expressed satisfaction at the significant progress made on the ongoing projects of military technical cooperation and recognised the positive shift towards joint research and joint production of military technical equipment between the two countries," it stated.

The S-400 missile deal has been an issue of much speculation after US President Donald Trump's administration's law -- Countering America's Adversaries Through Sanctions Act (CAATSA) -- came into effect in January.

CAATSA targets countries doing business with Russian, Iranian and North Korean defence companies.