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Modi, Putin Discuss $100 Billion Trade Target and Economic Cooperation

India’s Prime Minister Narendra Modi met Russia’s President Vladimir Putin in New Delhi.

Their meeting took place before the BRICS Summit hosted by India.

The two countries want to increase their trade to $100 billion by 2030.

Their trade is currently about $60 billion.

They were expected to discuss factories, railways, tunnels and steel.

They also planned to consider nuclear energy, minerals, fertilisers and jobs for skilled Indian workers in Russia.

Modi gave Putin a Russian translation of the Thirukkural, an old Tamil book of moral teachings.

Key facts

Trade target: India and Russia are seeking bilateral trade of $100 billion by 2030.
Current trade: Bilateral trade was described as approximately $60 billion, driven largely by crude oil imports.
Industrial cooperation: Potential areas included railways, tunnelling, steel, business-to-business opportunities and Indian access to the Russian market.
Nuclear cooperation: The agenda included civil nuclear cooperation across the fuel cycle and life-cycle support for nuclear projects.
Workforce mobility: The countries were expected to explore sending more skilled Indian workers to Russia.
Strategic supplies: Critical minerals and fertilisers, including strategic joint-venture projects, were identified as cooperation areas.
Cultural exchange: Modi presented Putin with a Russian translation of the Thirukkural.

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