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Modi, Putin Expand Trade and Strategic Cooperation Amid Trade Tensions
India’s Prime Minister Narendra Modi and Russia’s President Vladimir Putin met in New Delhi.
They discussed ways for India and Russia to do more business together.
The countries want their trade to reach $100 billion by 2030.
They also discussed weapons, energy, nuclear power and important minerals.
India wants to sell more goods in Russia and send more skilled workers there.
The leaders later joined a BRICS business meeting about technology, small businesses and entrepreneurship.
BRICS finance officials said emerging countries should have a stronger voice in the IMF and World Bank.
They also supported using local currencies and improving cross-border payment systems.
Their statement criticised tariffs and other trade measures that they said hurt developing economies.
Narendra Modi and Vladimir Putin held 45-minute talks in New Delhi focused on expanding economic and strategic ties.
India and Russia are working toward increasing bilateral trade to $100 billion by 2030.
Discussions covered defence, energy, civil nuclear cooperation, critical minerals, exports and skilled-worker mobility.
Possible defence issues included BrahMos upgrades, remaining S-400 deliveries and potential Su-57 fighter supplies.
BRICS finance officials called for greater emerging-market representation in global institutions and opposed unilateral trade measures.
- Who
- Indian Prime Minister Narendra Modi, Russian President Vladimir Putin and BRICS finance officials.
- What
- Modi and Putin discussed expanding bilateral trade, economic cooperation, defence ties, energy and strategic relations; BRICS officials discussed global trade and financial governance.
- Where
- The bilateral talks took place in New Delhi, while the BRICS finance meeting took place in Mumbai.
- When
- Modi and Putin met on Friday; BRICS finance ministers and central bank governors met on September 9 and 10. The article also cites tariff developments from April 2, 2025, February 20, 2026, February 24, 2026, and July 24.
- Why
- India and Russia aim to broaden economic and strategic engagement, while BRICS members seek stronger financial cooperation and greater representation for developing economies.
BRICS and Developing Economies
United States Tariff Policy
Trade measures
BRICS and Developing Economies
BRICS members said unilateral tariffs and other trade-related actions distort trade, harm emerging economies and conflict with World Trade Organization rules.
United States Tariff Policy
The United States under President Donald Trump pursued tariff measures, including a 10 percent tariff on most Indian exports under a Section 301 action related to forced labour.
Global economic governance
BRICS and Developing Economies
BRICS called for greater representation for emerging-market and developing economies in the International Monetary Fund and World Bank, including changes to quota and voting shares.
United States Tariff Policy
The article describes the existing Bretton Woods institutions and says BRICS wants their governance structures changed, but it does not provide a separate United States position on the proposal.
Key facts
- Bilateral meeting
- Narendra Modi and Vladimir Putin held 45-minute talks in New Delhi.
- Trade target
- India and Russia are working toward $100 billion in bilateral trade by 2030.
- Defence cooperation
- Topics included possible BrahMos upgrades, remaining S-400 deliveries and possible Su-57 supplies.
- Economic areas
- The countries discussed exports, industrial cooperation, skilled-worker mobility and critical minerals.
- Energy cooperation
- The agenda included additional Indian nuclear reactors, the nuclear fuel cycle and life-cycle support.
- BRICS position
- BRICS called for greater emerging-market representation in the IMF and World Bank.
- Trade concerns
- BRICS criticised unilateral tariffs and non-tariff measures as inconsistent with World Trade Organization rules.
Quotes
BRICS members
Members of the BRICS grouping speaking through a joint statement
“We continue to have serious concerns about the unilateral imposition of trade and finance-related actions, including the raising of tariffs and non-tariff measures, which distort trade and are inconsistent with World Trade Organisation (WTO) rules.”
thehansindia.com
“open, transparent, inclusive, non-discriminatory, and rules-based multilateral trading system with the World Trade Organisation (WTO) at its core”
thehansindia.com
Sources
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