On Friday (5/12), Russia and India strengthened their decades-long strategic partnership by signing a series of agreements that set the goal of increasing bilateral trade to $100 billion by 2030. Following the meetings, the two countries signed dozens of memorandums covering sectors such as infrastructure, energy, pharmaceuticals and media, expanding economic ties between traditional allies.
In a joint statement, Russian President Vladimir Putin praised India’s political and economic behaviour. “Under the leadership of Prime Minister Narendra Modi, India is pursuing an independent sovereign policy and achieving great results in the economy,” he said.
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He also stated that Moscow seeks “multifaceted relations” with New Delhi in several areas.
Modi responded in kind, highlighting the longevity of his personal relationship with the Russian leader. He said: “It gives me great pleasure that my relationship with you has lasted more than 25 years.”
According to him, the greatest strength of the partnership is “mutual trust,” which “gives wings to achieve what we want.” The Prime Minister said he was confident that the US$100 billion target could be reached before 2030.
Unified relations
- India continued to import Russian oil even in the face of Washington’s warnings about indirect financing of the war in Ukraine.
- In response, Donald Trump imposed additional tariffs on Indian products, increasing import duties by up to 50%.
- However, New Delhi continues to defend its policy, citing the need to meet the growing energy demand of its 1.4 billion people.
- In the field of defence, Russian-Indian cooperation remains pivotal. India is expected to discuss the delivery of two additional S-400 missile systems, modernization of Su-30MKI fighters, accelerating deliveries of critical military materials and potential partnerships in the development of the Su-57 fighter, including technology transfer and joint production.
Among the stated commitments, Moscow has guaranteed uninterrupted energy supplies to India. Russia also intends to benefit from Indian expertise to establish a large pharmaceutical factory in the Kaluga region, dedicated to the production of anti-cancer drugs.
Known as the “pharmacy of the world,” the country accounts for 60% of global vaccine production and a large share of the general market.
During the visit, Putin also stated that he promises to increase Indians’ access to information about Russia. At a reception hosted by Indian President Draupadi Murmu, the Russian leader stated that Moscow “sincerely values” the friendship built over decades.
He noted that Soviet experts were involved in implementing infrastructure, factories and space programs in India, strengthening the partnership that is now gaining new economic and political momentum.