A Special Visit
The visit of President Vladimir Putin to India was considered a 'special' occasion, according to Foreign Secretary Misri. Putin's arrival in Delhi was met
with high-level talks, including a meeting at Rashtrapati Bhavan. The visit underscored the strong diplomatic ties and ongoing cooperation between India and Russia. Discussions centered on various aspects of mutual interest, aiming to further strengthen the bond between the two nations.
Trade and Economic Ties
A significant focus of the summit was on enhancing trade and economic collaboration. Prime Minister Modi indicated that talks were underway regarding a Free Trade Agreement (FTA) with the Eurasian Economic Union. The leaders expressed their aim to hit a USD 100 billion trade target before 2030. They also discussed removing tariff and non-tariff barriers to boost trade, indicating a commitment to ease of doing business and fostering economic growth between the two countries.
Defense and Space
During the summit, the discussions expanded to include key sectors such as defense and space. It was announced that these areas would be opened up to the private sector. This move signals a strategic shift towards greater involvement of private entities in these traditionally government-dominated areas, potentially fostering innovation and increasing efficiency in both defense and space endeavors. The goal is to advance these sectors through collaborative efforts.
Shared Vision and Growth
The summit highlighted the shared vision of 'Go together, grow together' reflecting the spirit of India-Russia ties, as articulated by President Putin. Prime Minister Modi echoed this sentiment, emphasizing the collaborative approach to achieving mutual growth. This signifies a commitment to working together for progress. This includes collaborative efforts in trade, defense, and cultural exchanges, aiming to create a prosperous future for both nations.
Cultural Exchanges
The visit featured cultural exchanges and expressions of friendship. A state dinner at Rashtrapati Bhavan honored President Putin, featuring an all-vegetarian thali. Prime Minister Modi gifted President Putin items reflecting India's heritage. President Murmu also welcomed Putin ahead of the state dinner, symbolizing the respect and warmth between the two nations. These exchanges showcase the cultural bonds and strengthen the overall relationship.
GST Reforms
Discussions included future economic reforms, with a focus on next-generation Goods and Services Tax (GST) reforms. These reforms aim to improve ease of doing business, streamlining procedures, and reducing bureaucratic hurdles. The emphasis on GST reforms showcases India’s commitment to providing a better environment for both domestic and foreign businesses. This commitment will help to create a more attractive investment climate.
Departure and Future
Following the high-level engagements and state dinner, President Putin departed Delhi. Prime Minister Modi and President Murmu saw him off, reflecting the significance of the visit. The summit set the stage for further strengthening the India-Russia relationship. There was optimism about future collaborations and the continued growth of their friendship, as both nations work towards achieving shared goals and fostering a strong partnership.
