President Vladimir Putin on Friday 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.”
Addressing a joint press meeting at the Hyderabad House, 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.
Touching on connectivity, the Russian President noted joint efforts to boost new transport corridors and said, “We are working with our Indian partners to build new international transport routes, including the project to create North-South transport from Russia or Belarus to the Indian Ocean coast.”
Putin also emphasised the close alignment between New Delhi and Moscow on global affairs and said, “Russia and India are conducting independent and self-sufficient foreign policy with like-minded countries in BRICS, SCO and other countries of the global majority… We are defending the main principle of the law enshrined in the UN.”
With India set to chair BRICS next year, Putin assured full support,“…As state founders of the BRICS, Russia and India have done a lot and continue to do more to increase the authority of the organisation… We will provide all necessary assistance to our Indian friends.”
Reflecting on long-standing defence cooperation, he said, “Our country, for the last half a century, has been helping to arm and modernise the Indian Army, including the Air Defence Forces, aviation, and the Navy.”
Putin expressed satisfaction with the talks and added, “We are undoubtedly satisfied with the results of the negotiation… I can express my confidence that the current visit and the agreements reached will help further deepen the Russian-Indian strategic partnership for the benefit of our countries and the peoples of India and Russia.”
The Russian President also conveyed his warm appreciation to President Droupadi Murmu and PM Modi.
“I thank President of India, Droupadi Murmu, Prime Minister of India and all our Indian colleagues for the warm and hospitable welcome accorded to the Russian delegation…I thank PM Modi for the dinner at his residence yesterday,” he said.
He also said, “India and Russia have long been standing shoulder to shoulder in the fight against terrorism. Whether it is the terrorist attack in Pahalgam or the cowardly attack on the Crocus City Hall, the root of all these incidents is the same. India’s unwavering belief is that terrorism is a direct assault on the values of humanity and that global unity against it is our greatest strength. India and Russia have close cooperation in the UN, G20, BRICS, SCO, and other forums. We will continue our dialogue and cooperation in all these forums.”
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.”
During the press conference, Russian President Putin 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.