Russian President Vladimir Putin is set to arrive in New Delhi today for a two-day state visit, marking his first trip to India since the commencement of the Ukraine conflict. The visit will focus on strengthening the "Special and Privileged Strategic Partnership" between India and Russia, with discussions spanning defense, trade, and energy cooperation.
Prime Minister Narendra Modi will host a private dinner for President Putin shortly after his arrival, setting the stage for in-depth discussions on Friday. The 23rd India-Russia Annual Summit aims to address key areas of mutual interest, including regional and global issues. President Droupadi Murmu will also receive the Russian President and host a state banquet in his honor.
A central focus of the visit will be on bolstering trade and economic ties between the two nations. Bilateral trade reached a record high of $68.7 billion in FY2024-25, nearly six times higher than pre-pandemic levels. The leaders aim to increase this figure to $100 billion by 2030. Discussions will likely cover facilitating market access for Indian products and addressing the trade imbalance, where India's exports to Russia are significantly lower than its imports.
Energy cooperation will be a crucial aspect of the talks. India has emerged as a major buyer of Russian crude oil, and the two countries are expected to explore long-term energy commitments, including potential Indian equity in LNG fields and multi-year crude supply agreements. The construction of additional units at the Kudankulam Nuclear Power Plant is also expected to be on the agenda.
Defense cooperation remains a vital pillar of the India-Russia relationship. With a significant portion of India's military platforms being of Russian origin, discussions will likely focus on the accelerated delivery of S-400 Triumf systems and clarity on spares and upgrades for existing platforms. While the Su-57 stealth fighter may be discussed, it is considered a future possibility rather than a near-term commitment.
Both countries are exploring mechanisms to insulate bilateral trade from the impact of US sanctions. This includes formalizing a new payment framework using the UAE dirham or integrating Russia's SPFS system with India's RuPay network. A deal on worker mobility is also expected to be signed during the visit.
President Putin and Prime Minister Modi will jointly address the India-Russia Business Forum, where investment opportunities and technology collaboration will be highlighted. Agreements in areas such as trade, economy, healthcare, academics, culture, and media are expected to be signed.
This visit takes place against the backdrop of increasing US pressure on India regarding its relationship with Russia. New Delhi aims to maintain its strategic autonomy while navigating these geopolitical challenges. President Putin's visit underscores the importance of the India-Russia relationship, with both countries seeking to deepen cooperation across various sectors.
