A Warm Welcome
Upon his arrival in New Delhi, President Putin received a ceremonial welcome at Rashtrapati Bhavan. This marked the beginning of a series of engagements
that highlighted the strong relationship between the two nations. The welcoming ceremony set a positive tone for the discussions to follow, emphasizing the respect and importance both countries place on their bilateral ties.
Economic Cooperation
A central theme of the visit was strengthening economic ties. Prime Minister Modi and President Putin agreed on an Economic Cooperation Programme extending to 2030, with a focus on diversifying trade and investment. The leaders also discussed reducing trade barriers and accelerating the conclusion of a Free Trade Agreement (FTA) with the Eurasian Economic Union. The aim is to achieve over $100 billion in bilateral trade, a target the leaders believe can be met sooner than initially anticipated. Discussions also touched upon expanding India’s market access in Russia for commodities like fruits, vegetables, and pharmaceuticals. India's exports to Russia stood at $4.9 billion in FY 2024-25, while imports, mainly oil, amounted to $63.8 billion, a trade deficit that needed urgent attention.
Business Forum
The India-Russia Business Forum served as a platform to promote new avenues for growth and innovation. Prime Minister Modi invited businesses to 'Make in India' and partner with India to create lasting solutions to global challenges. He highlighted India's ambition to become the 'skill capital of the world,' focusing on training workers in the Russian language and soft skills. Discussions also included collaboration in the pharmaceutical sector, where India is recognized as the 'Pharmacy of the World.' Joint projects in vaccine development, cancer therapy, and API supply chains were proposed to strengthen healthcare security. Furthermore, potential collaborations in sectors like textiles, fertilisers, and electronics were also discussed.
Strategic Partnerships
President Putin emphasized the independent foreign policies of both countries and their commitment to upholding UN principles. Discussions included expanding cooperation in defence, space development, and artificial intelligence. New agreements were inked on migration and mobility, as well as in the port, shipping, health, and food safety sectors. The two leaders also discussed expanding cooperation in the energy sector, including the construction of India’s largest nuclear power plant at Kudankulam. Plans for a large Russian-Indian pharmaceutical facility were also announced, and cultural and educational ties were highlighted.
Diplomatic Talks
The summit provided an opportunity for comprehensive discussions on various aspects of India-Russia cooperation. Key discussions focused on the Ukraine conflict, with Prime Minister Modi reiterating India's stance on peace. Shashi Tharoor, a Congress MP, was invited to a dinner hosted by President Droupadi Murmu, while other opposition leaders were not. The visit also involved symbolic gestures, such as gifting the Gita translated into Russian. The visit underscored the significance of the relationship between India and Russia, characterized by mutual respect and trust. It was viewed as an essential part of India's foreign policy outreach.
