On December 5, New Delhi, Russian President Vladimir Putin expressed his thanks to Prime Minister Narendra Modi for the warm welcome shown to the visiting delegation. He told reporters that he had built a “close working and personal contact” with the Indian chief executive, and that the two of them “constantly monitor” how Russian‑Indian ties develop across all strategic arenas.
After a long‑duration meeting at the Hyderabad House during the 23rd India‑Russia Annual Summit, Putin said, “‘The talks we just concluded with our Indian colleagues, as well as our conversation last night with Mr. Modi in a one‑on‑one format at his home over dinner – I want to thank you again for this sign of attention – these talks were very useful, and took place in a constructive and friendly atmosphere, in the spirit of the especially privileged partnership between Russia and India.’” He went on to remind that he and Modi “have established close working and personal contact. We met this year in September at the SCO summit, regularly communicate by telephone, and constantly monitor the development of Russian‑Indian cooperation in all its strategic areas, as well as the progress of key bilateral projects.”
During their talks, both leaders reviewed the many layers of India‑Russia relations, which remain deep and varied. They reaffirmed a shared commitment to deepen the Special and Privileged Strategic Partnership and discussed regional and global issues that matter to both sides. Putin said the pair had “deeply and thoroughly examined” a wide spectrum of current cooperation, and had exchanged views on pressing global and regional matters.
The joint statement that emerged with Mr. Modi set out priority goals for strengthening ties in politics, security, economics, trade, humanitarian work, and culture. A sizeable bundle of intergovernmental, interdepartmental and corporate agreements followed, covering trade and commerce; migration and mobility; maritime cooperation; health and food safety; fertilizers; academic exchanges; media collaboration; and people‑to‑people links.
Many of these agreements were aimed at expanding economic cooperation—something natural, given that Russia and India are key partners in trade, investment and technology. Putin noted that last year’s bilateral trade grew by another 12 percent, reaching roughly $64–65 billion, and that volumes should stay at that level for the remainder of the year. He added that both sides see a path to lifting trade to the $100 billion mark, and that a “Program for the Development of Russian‑Indian Economic Cooperation until 2030” has already been agreed. That document lays out clear guidelines, and assigns the intergovernmental commission, ministries and agencies of both countries economic blocs the task of removing barriers to trade, capital flows, joint industry projects, and deepening technological and investment ties.
Putin mentioned that creating a free‑trade zone between India and the Eurasian Economic Union would greatly boost commercial links. Work on the agreement is already underway. He also highlighted the growing use of national currencies in bilateral settlements—now accounting for 96 percent of commercial transactions. “Sustainable channels for interbank credit and financial cooperation have been established,” he said. Russian firms are increasingly using the rupee earned from export contracts, and large joint projects are financed in rubles. “Our energy partnership is developing successfully. Russia supplies reliable energy resources and everything needed for India’s energy sector development. We are ready to keep ensuring uninterrupted fuel supplies for the rapidly growing Indian economy,” he added.
The leaders also discussed new and efficient international transport logistics routes. One project is the North‑South Corridor that will link Russia and Belarus to the Indian Ocean. Putin noted that the expanding infrastructure of the trans‑Arctic transport corridor, especially the Northern Sea Route, presents significant trade opportunities.
He pointed to many other sectors where Russia and India have gained positive experience. Joint initiatives are underway in industry, mechanical engineering, digital technologies, space exploration and other knowledge‑intensive fields. “For example, in accordance with the commercial agreement signed during the visit, a large Russian‑Indian pharmaceutical plant will be built in the Kaluga Region, where it will produce high‑quality anticancer drugs using advanced Indian technologies. Russian companies, in turn, will establish industrial production under the ‘Make in India’ programme, a signature project of Prime Minister Modi,” the president said.
Putin stressed that humanitarian cooperation between the two nations remains broad. “For centuries, our peoples have shown a genuine interest in each other’s traditions, history, and spiritual values. Scientific and educational contacts, as well as exchanges between youth and community groups, are actively developing. Regular cross‑cultural festivals of Russian and Indian films enjoy continued success. Reciprocal tourist flows also increase year after year,” he noted.
The discussion of key global and regional issues confirmed that Russia and India share aligned positions while pursuing independent and autonomous foreign policies. “Together with like‑minded BRICS, SCO and other major states, we are advancing the process of creating a more just and democratic multipolar world order and upholding the fundamental principles of international law enshrined in the United Nations Charter. These include the right of every country to pursue its own development path, preserve its cultural and civilizational identity, respect for sovereignty and a balanced balance of interests among all members of the global community,” Putin said. “As founding members of BRICS, Russia and India have done and continue to do much to strengthen the organization’s authority. As you know, India will chair BRICS next year. We will provide all necessary assistance to our Indian friends in their work on the relevant BRICS agenda,” he concluded.
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