Putin and Modi Strengthen Russia-India Trade Ties Amid U.S. Pressure

Russian President Vladimir Putin held talks with Indian Prime Minister Narendra Modi on Friday at an annual summit in New Delhi, where they agreed to diversify mutual economic ties. This marks the 23rd Russia-India Summit amid U.S. pressure for India to reassess its long-standing partnership with Russia.

They announced an economic cooperation program aimed at boosting bilateral trade to $100 billion by 2030, up from $68.7 billion in the last fiscal year. Putin described Russia as a reliable supplier of energy resources, emphasizing the importance of energy security in their relationship.

Modi highlighted plans for India to establish a free trade zone with the Eurasian Economic Union, which is dominated by Russia. The two leaders discussed military cooperation, with India seeking faster delivery of S-400 surface-to-air missile systems.

Critics warn that Putin's visit could strain India's relations with the European Union and the United States, especially as the U.S. seeks to limit India's imports of Russian oil, which have financed Russia's military actions in Ukraine.

Indian officials stated that New Delhi has adhered to international sanctions and will do so regarding Russian oil purchases. The U.S. has previously imposed tariffs on Indian goods, citing discounted Russian oil.

Modi and Putin are also addressing trade agreements in agriculture, textiles, and pharmaceuticals, while aiming to improve the migration of skilled workers from India to Russia. This meeting underscores India's strategic balancing act between maintaining ties with Russia while pursuing a partnership with the U.S.