Moscow, August 24: India and Russia on Monday discussed ways to strengthen their longstanding bilateral partnership and expand cooperation across key sectors during External Affairs Minister S. Jaishankar’s meeting with Russian President Vladimir Putin at the Kremlin.
Jaishankar conveyed Prime Minister Narendra Modi’s greetings to Putin and handed over a personal message from the Indian Prime Minister. The talks focused on expanding economic cooperation, trade, energy and other areas of strategic importance.
Focus on trade, energy and economic cooperation
The meeting came after Jaishankar and Russian First Deputy Prime Minister Denis Manturov co-chaired the 27th session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation.
Jaishankar said India-Russia economic ties have grown significantly, with cooperation spanning trade, energy, fertilisers and nuclear sectors. Both sides also discussed steps needed to further expand bilateral trade and address issues related to market access, tariff and non-tariff barriers, payment mechanisms and business-to-business engagement.
India and Russia have set a target of increasing bilateral trade to $100 billion by 2030. The two countries have also identified greater connectivity, investment and diversification of trade as key priorities.
Putin offers to boost fertiliser supplies
During the meeting, Putin said Russia was prepared to increase fertiliser supplies to India, underlining Moscow’s support for Indian agriculture and farmers.
Fertilisers remain an important component of India-Russia economic cooperation, alongside energy and other commodities. The two countries have previously committed to ensuring sustainable fertiliser supplies through long-term arrangements.
Modi-Putin meetings on the horizon
Jaishankar also conveyed that Prime Minister Modi looks forward to meeting Putin at the upcoming SCO Summit in Bishkek and welcoming him to India for the BRICS Summit.
The two leaders are also expected to hold their annual summit at a mutually convenient time, signalling continued high-level engagement between New Delhi and Moscow. The Kremlin confirmed that Putin and Jaishankar discussed the strength and breadth of bilateral cooperation during Monday’s meeting.
A relationship expanding beyond traditional sectors
India and Russia continue to cooperate across energy, defence, fertilisers, trade, science and technology, connectivity and other areas. The two sides have also been working to improve payment mechanisms and transport links, including the International North-South Transport Corridor and the Chennai-Vladivostok corridor.
With the latest talks focusing strongly on trade and economic cooperation, both countries are seeking to make their partnership more diversified and balanced while working towards the ambitious $100-billion trade target by 2030.
