Russian President Vladimir Putin and Indian Prime Minister Narendra Modi agreed yesterday to expand and diversify bilateral trade beyond oil and defence, even as Western countries continue to pressure New Delhi to reduce its decades-old close partnership with Moscow.
India, which is the largest buyer of Russian arms and seaborne oil, hosted President Putin with a warm reception during his two-day state visit. This is Putin’s first visit to New Delhi since Russia’s 2022 invasion of Ukraine.
The visit comes at a time when New Delhi is negotiating a trade deal with the United States aimed at reducing punitive tariffs imposed by former U.S. President Donald Trump due to India’s increased purchases of Russian oil.
Russia has said it wants to increase imports of Indian products to help raise bilateral trade to 100 billion dollars by 2030. The trade balance currently remains in Moscow’s favor, largely because of New Delhi’s substantial energy imports.
