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The American ship was detained off the Tuticorin coast last weekend by the Indian Coast Guard.
India's benchmark BSE Sensex rose by 297.70 points or 1.46 per cent to 20,713.21 on Friday morning.
India has excelled in information technology services but imports the majority of its electronics requirements.
A total of 500 troopers from Russia and India will participate in the drills.
The two countries have been fierce critics of ultra-loose monetary policies in developed economies.
The reform of voting rights, known as quotas, cannot proceed without approval from the US Congress.
The mishap was triggered by rumours that a river bridge the devotees were crossing was about to collapse.
Director for Asia Pacific Department Anoop Singh says India's growth will "recover significantly next year".
Satellite images show the storm to be half the size of India.
The Indian Meteorological Department has issued a “very severe cyclone alert”.
