Prime Minister Narendra Modi on Friday hailed the enduring India–Russia partnership, describing it as a guiding “North star” in a rapidly changing global order.
Speaking at a joint press conference with Russian President Vladimir Putin after the 23rd India–Russia Bilateral Summit, the Prime Minister announced that both countries have “agreed on an economic cooperation programme that will run till 2030.”
During the joint press conference with Russian President Vladimir Putin on Friday, Prime Minister Narendra Modi underscored the long-standing and strategic relationship between India and Russia.
Addressing delegates from both countries, PM Modi said, “My friend President Putin, delegates from both countries – I am happy to welcome President Putin for the 23rd India–Russia Bilateral Summit. Twenty-five years ago, President Putin laid the foundation of our strategic partnership.”
Reflecting on the resilience of the bilateral relationship, he added, “The world has witnessed many ups and downs in the last eight decades. However, the friendship between India and Russia has remained like a pole star. This relationship is built on mutual respect and trust… Today, we have held discussions on all factors that will help strengthen this relationship.”
On energy cooperation, the Prime Minister highlighted, “Energy security has been a strong pillar of our partnership, and we will continue this win-win cooperation. Our collaboration in civil nuclear energy has spanned decades and contributed to clean energy. Our cooperation in critical minerals is essential for maintaining a diverse and reliable global supply chain.”
PM Modi also referred to cultural and tourism ties, noting, “This year in October, millions of devotees received the blessings of Lord Buddha’s sacred relics at the International Buddhist Forum in Kalmykia. I’m pleased that we will soon be launching a free 30-day e-tourist visa and a 30-day Group Tourist Visa for Russian citizens.”
At the press conference, President Putin said that Russia is a reliable partner in India’s energy sector, providing oil, gas, coal, and other essential resources for it’s development and that the Kremlin is ready to “continue uninterrupted shipments of fuel for the growing Indian economy.”
Putin highlighted the expanding energy partnership and said, “We are seeing successful partnership in energy. Russia is a reliable supply of oil, gas, coal and everything that is required for the development of India’s energy. We are ready to continue uninterrupted shipments of fuel for the growing Indian economy. We are also conducting a project to build a largest Indian nuclear power plant.”
The Russian President said progress on the nuclear project has been steady and stated, “We are also working on a project to build the largest Indian nuclear plant. Three out of six reactors have already been connected to the energy network.”
Putin also underlined the growing financial synergy between the two countries, noting the rapid shift toward local-currency trade.
He said, “Our countries are gradually moving towards the use of national currencies for payment settlements. The share is 96 per cent already in commercial payments.”
He pointed to strong bilateral trade, which reached a new record last year and said, “Last year, our bilateral trade turnover has grown by 12 per cent, setting another record… around 64 billion US dollars. We are forecasting that the results of this year will remain at the same impressive level. At the same time… we are up to the task of getting this number to the level of USD 100 billion.”
Putin added that establishing a free trade zone between India and the Eurasian Economic Union would further accelerate trade growth.“We are already conducting work on the corresponding agreement,” he said.
The Russian President expressed gratitude to PM Modi and President Droupadi Murmu for the warm and hospitable welcome and assured that Russia will continue uninterrupted shipments of fuel for the growing Indian economy.
The joint press conference highlighted the depth of India-Russia cooperation across strategic, economic, and cultural spheres, reinforcing the longstanding friendship between the two nations.
Putin had arrived in the national capital on Thursday and PM Modi broke with protocol to welcome him on the tarmac. Following his arrival at the Palam Airport, PM Modi welcomed Putin with a hug.
PM Modi, in a post on X, stated that the “friendship” between the two leaders is a “time-tested one” and he was delighted to welcome Putin back to India after four years.Both leaders shared the same car ride to Lok Kalyan Marg residence of the Prime Minister Modi where Putin was gifted a copy of the sacred Bhagwad Gita.
Putin also attended a India-Russia business forum and launch the RT channel in India before participating in a banquet thrown by President Murmu in his honour. He is scheduled to depart the country late this evening.