Moscow: India and Russia plan to set up a joint forum on energy security to evolve mechanisms for dialogue on the vital issue, Foreign Secretary Kanwal Sibal said.

The two sides are planning to sign an accord on setting up the forum during Russian President Vladimir Putin's forthcoming India visit, he told reporters.

As Russia is emerging as major player in the energy sector in the region and India is the major consumer of energy, this co-operation acquires a strategic dimension, Sibal said.

Sibal, who arrived in Moscow on September 5 on a three-day visit for launching preparations for the next Indo-Russian Summit in New Delhi in December, said several other key documents are expected to be signed during Putin's "landmark" visit to India to further bilateral strategic relationship.

"Besides a political declaration reflecting importance of Indo-Russian ties, some economic agreements are also being finalised since focus is now shifting on economy," Sibal said.

As the Russian economy is picking its form after the 1998 meltdown, the Russian business is beginning to look towards India. Several top executives of Russian blue- chip companies, including Gazprom Gas Monopoly and Alpha Bank were seen for the first time at a reception hosted by Indian Ambassador K Raghunath in honour of Sibal.

PTI