1 hr ago
Modi, Putin Seek $100 Billion Trade and Stronger Ties
Narendra Modi of India and Vladimir Putin of Russia met in New Delhi.
They wanted to make trade between their countries much larger.
Their goal is to increase yearly trade from about $65 billion to $100 billion by 2030.
India asked for better access to Russian markets for Indian businesses.
The leaders also discussed defence equipment and military cooperation.
They talked about energy, nuclear power, fertilisers and important minerals.
Putin discussed the Ukraine war and peace efforts with Modi.
Modi said conflicts should be solved through talks and diplomacy.
Modi also gave Putin a Russian translation of the Thirukkural, an important work by the Tamil poet Thiruvalluvar.
Narendra Modi and Vladimir Putin discussed raising annual India-Russia trade from about $65 billion to $100 billion by 2030.
The leaders reviewed cooperation in defence, energy, critical minerals, fertilisers, nuclear power and industrial sectors.
India sought greater access for its exporters in Russia to help address the trade deficit in Russia’s favour.
Putin briefed Modi on the Ukraine war and peace initiatives, while Modi reiterated India’s support for dialogue and diplomacy.
The talks included potential BrahMos upgrades, remaining S-400 deliveries, Su-57 fighter-jet discussions and expanded skilled-labour mobility.
- Who
- Indian Prime Minister Narendra Modi and Russian President Vladimir Putin.
- What
- They discussed increasing bilateral trade to $100 billion by 2030 and expanding cooperation in defence, energy, critical minerals, fertilisers and other sectors.
- Where
- New Delhi, including talks and a business forum at the Bharat Mandapam complex.
- When
- On Friday, during Putin’s three-day visit to India for the BRICS summit.
- Why
- To strengthen economic and strategic ties, address the trade imbalance and expand existing cooperation.
India’s priorities
Russia’s priorities
Trade and market access
India’s priorities
India sought greater access for Indian exporters in Russia to help reduce the trade deficit in Russia’s favour.
Russia’s priorities
The talks focused on reaching the shared target of USD 100 billion in annual bilateral trade by 2030.
Ukraine conflict
India’s priorities
India reiterated that the conflict should be resolved through dialogue and diplomacy.
Russia’s priorities
Putin briefed Modi on the overall situation regarding the Ukraine war and ongoing peace initiatives.
Key facts
- Current annual trade
- About USD 65 billion
- Trade target
- USD 100 billion by 2030
- Main economic issue
- India wants greater Russian market access for its exporters to address the trade deficit in Russia’s favour.
- Defence cooperation
- The discussions included BrahMos missile upgrades, remaining S-400 deliveries and possible Su-57 fighter-jet supplies.
- Energy cooperation
- The leaders reviewed energy ties and agreed to further expand civil nuclear cooperation.
- Ukraine position
- Putin briefed Modi on the war and peace initiatives; Modi reiterated India’s support for dialogue and diplomacy.
- Cultural gift
- Modi gave Putin a Russian translation of the Thirukkural by Tamil poet and philosopher Thiruvalluvar.
Sources
Related news
Modi Gifts Putin Russian Thirukkural Translation Ahead of BRICS Summit
Modi, Putin Discuss $100 Billion Trade Target and Economic Cooperation
Modi, Putin Hold Talks on Trade, Defence and Energy
Modi, Putin Expand Trade and Strategic Cooperation Amid Trade Tensions
Modi Accepts Putin Invitation for India-Russia Annual Summit
Modi-Putin Meeting to Address Oil, Defense and Ukraine
Modi and Putin showcase car diplomacy ahead of BRICS Summit
Suvendu Adhikari to Attend BRICS Dinner at Rashtrapati Bhavan
