India and Russia on Friday finalized an expansive five-year roadmap aimed at deepening economic and commercial cooperation, responding firmly to the United States’ tariff and sanction threats over New Delhi’s imports of Russian oil. During the joint statement, Prime Minister Narendra Modi highlighted the resilience of the India–Russia partnership, describing the 25-year-old strategic relationship as a “pole star” that has remained steady despite global uncertainties.
The joint statement, issued in New Delhi after delegation-level talks as part of the 23rd India–Russia Annual Summit, reaffirmed both countries’ commitment to enhancing security coordination, expanding energy ties, and accelerating commercial engagement. President Vladimir Putin, on his first official visit to India since 2021, held detailed discussions with PM Modi at Hyderabad House.
Both leaders emphasized that, amid shifting geopolitical realities, India and Russia must strengthen collaboration in trade, defence, connectivity, counterterrorism, and high-tech innovation.
India–Russia Vision 2030 Targets $100 Billion in Trade
At the summit’s conclusion, the two leaders unveiled “Vision 2030”—a long-term plan designed to increase cooperation in critical areas such as defence manufacturing, energy, technology, connectivity, and skilled workforce mobility.
“Our priority is to expand economic cooperation between India and Russia, and for this we have agreed on an economic cooperation programme till 2030,” PM Modi stated during the joint briefing.
Both nations set a clear target of increasing bilateral trade to USD 100 billion by 2030. President Putin noted that bilateral trade grew by 12% last year, hovering around USD 64 billion, and stressed that the goal of USD 100 billion is “well within reach.”
Free Trade Agreement (FTA) Under Discussion
Highlighting the next phase of economic expansion, President Putin confirmed that Russia will push for a Free Trade Agreement (FTA) between India and the Eurasian Economic Union (EAEU). “The Prime Minister provided a detailed list of challenges requiring close attention. We will work towards establishing a free trade zone with the Eurasian Economic Union,” Putin said.
PM Modi also underscored that both nations are working toward the early conclusion of the FTA with the EAEU.
The Vision 2030 framework emphasizes co-production, co-innovation, and increasing Indian exports in sectors such as pharmaceuticals, agriculture, and consumer goods.
Energy Security Becomes a Top Priority
Energy cooperation remained central to the summit, with Russia assuring India of uninterrupted fuel supplies. Both nations agreed to deepen collaboration in critical minerals, civil nuclear energy, and new transport corridors.
Putin highlighted ongoing work at India’s largest nuclear power project, noting that three of the six reactors have already been connected to the energy grid.
He further announced joint efforts to build new international connectivity routes, including the development of the North–South Transport Corridor, linking Russia or Belarus to the Indian Ocean.
Defence and high-technology cooperation also featured prominently, with both nations reaffirming their commitment to collaborate on military modernization, space research, shipbuilding, and areas such as artificial intelligence.
Addressing security concerns, PM Modi and President Putin delivered a strong joint message against terrorism, referencing the April 22 Pahalgam attack. PM Modi said India and Russia stand “shoulder-to-shoulder” against global terrorism.
Russia–Ukraine Conflict: India Reiterates Stand for Peace
Discussing the ongoing Russia–Ukraine conflict, PM Modi reaffirmed India’s position: “India is not neutral; India is on the side of peace.” He emphasized the need for diplomatic dialogue to end the conflict.
Putin briefed Modi on possible resolution pathways and expressed Russia’s willingness to pursue a peaceful settlement under the right conditions.
The summit also advanced discussions on labour mobility, aimed at simplifying movement for skilled and semi-skilled Indian workers to Russia. Both nations reiterated their commitment to close cooperation in multilateral platforms such as the G20, BRICS, SCO, and the United Nations.
Putin arrived in New Delhi on Thursday evening and shared a private dinner with PM Modi. On Friday, he received a ceremonial welcome at Rashtrapati Bhavan, inspected the Guard of Honour, met President Droupadi Murmu, and paid homage at Rajghat, before the delegation-level talks concluded with the joint statement.
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