India and Russia are putting together their space technology skills to build an ambitious navigational satellite project that would have both civilian and military applications, the Indo-Asian News Service (IANS) reported Thursday.

A milestone agreement on Indian participation in the proposed Global Navigational Satellite System (Glonass) as an equal and sole partner of Russia is to be signed during Russian President Vladimir Putin's three-day visit to India from Friday, IANS quoted a senior official as saying.

Russia had revived the project recently as an alternative to the US Global Positioning Satellite System and invited India to join it.

New Delhi's positive response comes in the wake of delay in finalizing India's participation in the Galileo satellite navigation system that European Union is developing.

Besides the agreement on Glonass, the two sides will also sign an agreement on peaceful uses of outer space and visa exemption for diplomats and official passport holders.

An agreement on liberalizing and facilitating business visas is also likely to give a boost to trade and economic ties that have declined since the collapse of the Soviet Union.

Putin, who will be heading a high-level delegation of ministers, officials and businessmen will hold talks with Prime Minister Manmohan Singh Friday as part of the institutionalized annual summit between the two countries held alternatively in each other's capital.

Besides New Delhi, Putin will visit Bangalore, the hub of India's information technology and knowledge industry.