Prime Minister Narendra Modi and Russian President Vladimir Putin concluded an important two-day summit in New Delhi, signing multiple agreements aimed at expanding economic and defence cooperation between India and Russia through to 2030. This meeting, the first since Russia’s invasion of Ukraine, demonstrated the resilience of the longstanding India-Russia partnership despite increasing pressure from the West on New Delhi. The summit not only reaffirmed strong ties but also paved the way for collaboration across key sectors such as trade, defence manufacturing, fertiliser production and tourism.

Trade and Economic Expansion Targets

One of the key outcomes of the summit was the shared commitment to raise bilateral trade to $100 billion by 2030, a significant rise from the recent $68.7 billion recorded last fiscal year. Prime Minister Modi highlighted this at the joint press conference with President Putin, stating that the agreement will ensure that trade and investment remain diversified, balanced and sustainable. The economic cooperation deal signed between the two nations promises to support long-term growth and deeper integration.

A major highlight was the agreement between Indian fertiliser companies—India Potash Ltd, Rashtriya Chemicals and Fertilisers Ltd, and National Fertilizers Ltd—and Russia’s Uralchem. They have come together to establish a urea production plant in Russia, aiming to secure India’s fertiliser supply and diversify the country’s agricultural supply chain sources. This will help India strengthen its food security and reduce dependence on fluctuating global markets.

The summit also witnessed commitments to boost joint ventures in defence manufacturing. Russia will participate actively under India’s ‘Make in India’ programme to help manufacture equipment needed by the Indian army and also enable exports to friendly third countries. This gesture is expected to further enhance defence collaboration beyond traditional arms trade and promote technology transfer and indigenous production.

Strategic Partnership Amid Geopolitical Challenges

The summit took place against the backdrop of increasing geopolitical tensions, especially relating to Russia’s war in Ukraine. India’s neutral but peace-oriented stance was reiterated by Prime Minister Modi, who expressed hope that Russia and Ukraine would soon move towards peaceful resolution. President Putin shared that Russia is engaging with several partners, including the United States, to explore avenues for peace.

Despite Western pressure, particularly from the United States, on India to reduce its imports of Russian oil, the relationship remains strong. Putin pointed out that even the US buys nuclear fuel from Russia, illustrating the complexities of global economics and diplomacy. India’s energy security remains a priority, and the Russian president assured “uninterrupted shipments” of oil, gas and coal, reaffirming Russia’s role as a reliable supplier for India’s growing needs.

To foster better people-to-people ties, India announced a free 30-day e-tourist visa and group tourist visa facility for Russian citizens. Prime Minister Modi described this as crucial for improving manpower mobility and cultural exchange between the two countries. This move is expected to boost tourism and strengthen diplomatic goodwill.

Further cooperation in civil nuclear energy was also discussed, with Putin noting progress at the Kudankulam Nuclear Power Plant in Tamil Nadu. Two of the six planned reactor units are already operational, and work continues to enhance India’s nuclear capabilities.

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