New Delhi, India — Russian President Vladimir Putin held talks with Indian Prime Minister Narendra Modi on Friday during the 23rd India-Russia Annual Summit, where the two leaders agreed to deepen and diversify economic cooperation amid intensified U.S. pressure on New Delhi to reconsider its longstanding partnership with Moscow.
RELATED NEWS : President Putin arrives in India for summit talks with Prime Minister Modi
The summit comes at a sensitive geopolitical moment as Washington seeks broader global support for a Ukraine peace deal while simultaneously urging India — one of Russia’s closest partners outside the former Soviet bloc — to scale back its economic engagement with the Kremlin. The meeting will test New Delhi’s ability to maintain its delicate strategic balance between Moscow and Washington as the war in Ukraine nears four years.
Putin arrived in New Delhi on Thursday and was warmly greeted by Modi with a handshake and a hug, signaling the personal rapport the two leaders have cultivated over the years.
Leaders Announce Expanding Economic Partnership
Following their talks, Modi and Putin announced that both sides had finalized a comprehensive economic cooperation program extending to 2030. The plan aims to significantly broaden sectors of collaboration and raise annual bilateral trade to $100 billion by the end of the decade, up from $68.7 billion in the fiscal year that ended in March.
India’s trade deficit with Russia remains substantial, driven largely by heavy imports of discounted Russian oil, fertilizers, and defense hardware. New Delhi hopes to narrow that gap by increasing Indian exports under the new agreement.
“To achieve this important goal, a detailed program for the development of Russian–Indian economic cooperation until 2030 has been agreed upon,” Putin said. He added that discussions are underway on establishing a free trade zone between India and the Russia-led Eurasian Economic Union, which he said could further accelerate trade.
Energy cooperation remained central to the talks. Calling Russia a “reliable supplier,” Putin said Moscow stands ready to ensure uninterrupted delivery of fuel to support India’s fast-growing economy. Modi, in turn, emphasized that civil nuclear cooperation, energy security, shipbuilding, fertilizers, and mobility of skilled labor will remain pillars of the bilateral partnership.
Modi also announced that India would soon begin issuing free electronic visas for Russian tourists, in a move aimed at boosting people-to-people ties.
U.S. Pressure Adds Strain to India’s Balancing Act
Despite the warmth between the two leaders, the visit carries geopolitical risks for New Delhi. Critics argue that embracing Putin so publicly could complicate India’s efforts to finalize trade agreements with the United States and the European Union — both of which view Russia’s war in Ukraine as a defining global threat.
In August, U.S. President Donald Trump raised tariffs on a wide range of Indian goods to 50%, citing India’s continued reliance on discounted Russian crude. India is currently the second-largest buyer of Russian oil after China.
Washington argues that such purchases help finance Russia’s military campaign. The U.S. has already sanctioned several major Russian oil producers in an attempt to reduce global demand for Moscow’s crude. Indian officials insist that New Delhi complies fully with international sanctions and will continue to prioritize the energy needs of its 1.4 billion citizens.
Foreign Secretary Vikram Misri confirmed that U.S. sanctions on Russian oil were discussed during the summit. Without elaborating on India’s position, he stressed that Indian oil companies — both public and private — base procurement decisions on market realities and commercial considerations.
“We are continuing our cooperation between the two countries,” Misri said.
Meanwhile, India and the U.S. have yet to conclude the first phase of a long-discussed trade deal, and negotiations with the EU remain ongoing.
Analysts say Putin’s visit highlights India’s diplomatic tightrope. “This underscores New Delhi’s strategic balancing act between the West and the rest — especially Russia,” said Praveen Donthi of the International Crisis Group. India’s ties with Moscow date back to the Cold War, and despite its formal nonaligned posture, the relationship remains deeply embedded in its defense and energy sectors. “The challenge,” Donthi said, “is maintaining that partnership while pursuing closer cooperation with the U.S.”
Defense Cooperation to Continue
Ahead of the summit, Indian officials indicated that Modi would press Russia for faster delivery of the remaining S-400 air-defense systems under a 2018 contract worth $5.4 billion. Defense and strategic cooperation, they said, would continue alongside broader economic expansion.
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