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India-Russia Trade Set for Major Boost as Putin, Modi Agree on New Path

India-Russia Trade Set for Major Boost as Putin, Modi Agree on New Path

Russian President Vladimir Putin has offered India uninterrupted fuel supplies as both countries work to strengthen their long-standing partnership. The offer came during Putin’s two-day visit to New Delhi, where he met Indian Prime Minister Narendra Modi to discuss expanding India-Russia Trade and deepening defence cooperation.

India, which is the world’s largest buyer of Russian arms and a major importer of Russian oil, welcomed Putin with a warm ceremonial reception. This visit marks his first trip to India since the Ukraine conflict began in 2022. However, the discussion on energy came at a sensitive time, as India also continues talks with the United States to reduce tariffs on its exports. These tariffs were imposed because of India’s growing oil purchases from Russia.

Although Putin said Moscow was ready to ensure “uninterrupted fuel supplies,” officials in New Delhi responded cautiously. India’s foreign secretary explained that energy companies make decisions based on market trends, sanctions, and commercial realities. This cautious approach reflects ongoing pressure from sanctions and fluctuating oil prices. Despite this, India-Russia Trade in energy remains active, with local refiners placing new orders for discounted Russian oil from non-sanctioned suppliers.

During the meeting, Modi described the India-Russia relationship as a bond built on “trust and mutual respect.” He said both sides agreed to a new economic cooperation plan extending to 2030, aiming to make India-Russia Trade more balanced and sustainable. Russia has already expressed interest in importing more Indian goods to help push bilateral trade toward the $100 billion target.

Putin also received a 21-gun salute at Rashtrapati Bhavan before holding detailed talks with Indian business and government delegations. The two countries signed several agreements, including cooperation in agriculture, shipping, healthcare, and a joint venture for a fertilizer plant in Russia. Defence ties will also be reshaped through joint research, development, and local production of spare parts for Russian military equipment.

In a televised interview, Putin questioned U.S. pressure on India over oil imports, noting that Washington continues to buy Russian fuel for its own use. India has also argued that U.S. tariffs remain unfair, especially as Western countries still purchase billions of dollars in Russian energy.

In other news read more: India’s Russian Oil Imports Rise In October Despite U.S. Pressure

Despite global tensions, leaders from both nations emphasized that India-Russia Trade remains stable and resilient.

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Ubaid Arif

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