Putin and Modi set $100 billion trade goal for India and Russia
Russian President Vladimir Putin and Indian Prime Minister Narendra Modi have agreed to target $100 billion in India-Russia trade exchanges by 2030.
India, a major buyer of Russian weapons and oil, is now seeing Prime Minister Modi focusing on diversification. During his official visit to New Delhi, the Russian President made it clear that the geopolitical stake is far beyond oil and gas, signaling a broader intent for economic cooperation.
The Indian Prime Minister is actively pursuing a crucial free trade agreement with the Russian-dominated Eurasian Economic Union, a key step in strengthening bilateral ties. Furthermore, Narendra Modi is insisting on expanding trade routes via the Caspian Sea and the South China Sea, underscoring the strategic dimension of this partnership in regional geopolitics.
Modi emphasized the shared goal of an accelerated economic partnership. He stated: "Taking economic cooperation to an even higher level is our common goal. For this, we have agreed on an economic cooperation program until 2030."
He added that through this program, "Our trade and investments will diversify, remain balanced and sustainable, and our partnership will gain new dimensions."
Vladimir Putin and Narendra Modi jointly presided over the Russian-Indian business forum. The key areas of cooperation target investments and critical supply chains—ranging from nuclear energy and critical minerals to cutting-edge technology and next-generation industries.
"The Russian delegation did not just come to discuss energy, nor merely to seek orders and sign contracts for oil or gas deliveries," Putin declared. "We want to develop a broad, multi-directional relationship with India. And Prime Minister Modi has emphasized many times in our discussions that India has a huge, rapidly growing potential in many areas."
The two-day visit by Vladimir Putin to New Delhi coincided with ongoing negotiations between India and the United States regarding the tariffs imposed by the Trump administration, sanctions linked to India's purchases of Russian oil.
In their joint statement, Putin and Modi affirmed their commitment to expanded military cooperation. India has notably avoided condemning Russia for the invasion of Ukraine, maintaining a declared neutrality but with a visible and consistent inclination toward Moscow.
Translation by Iurie Tataru
