Russian President Vladimir Putin concluded his official visit to India on December 5, with a banquet at the Indian President’s residence in New Delhi. Earlier in the day, he was welcomed with a formal guard of honour.
Putin held talks with Indian Prime Minister Narendra Modi, during which both leaders emphasized the importance of their “special and privileged strategic partnership.” The discussions included a focus on trade, energy, and defense cooperation.
Several agreements were signed during the visit. These included a new economic cooperation program, agreements on critical minerals and supply chains, and a plan to build a Russian-Indian pharmaceutical factory in Russia’s Kaluga region. The two countries also discussed cooperation in shipbuilding, civil nuclear energy, and training Indian seafarers for operations in polar waters.
In the energy sector, Putin reaffirmed Russia’s commitment to ensuring uninterrupted oil supplies to India, although no new oil deals were finalized.
There were also discussions about defense cooperation, but no new major defense deals were announced. Russia remains a key supplier of military equipment to India.
Trade was a significant focus of the visit. India and Russia aim to increase bilateral trade to $100 billion over the next five years. Their current trade volume stands at $68.72 billion, up from $8.1 billion in 2020, largely due to India’s purchases of Russian oil.
The leaders also spoke about the progress of a potential free trade agreement between India and the Eurasian Economic Union (EAEU), which includes Russia.
Asia Pacific Newslog 