Russian President Vladimir Putin is set to begin a two-day state visit to India on Thursday for the 23rd India-Russia Annual Summit, marking his first trip to the country in four years. The visit, which underscores the enduring "Special and Privileged Strategic Partnership," kicks off with a private dinner hosted by Prime Minister Narendra Modi at his official residence, a reciprocal gesture following Modi's visit to Moscow last year.
The main diplomatic and economic engagements are slated for Friday. Following a ceremonial welcome at Rashtrapati Bhavan, President Putin will hold extensive bilateral talks with PM Modi at Hyderabad House. The discussions are expected to focus on insulating the long-standing relationship from geopolitical pressures and setting a roadmap for cooperation until 2030. Key areas of focus will include defence, civil nuclear energy, and boosting lopsided bilateral trade.
Focus on Economic Resilience and Energy
A major part of the agenda is dedicated to bolstering the economic partnership and addressing the burgeoning trade deficit. While bilateral trade hit a record high of over $63 billion last year, largely driven by India's increased imports of discounted Russian crude oil, India is keen to boost its exports of pharmaceuticals, textiles, and agricultural goods. The leaders will jointly address the India-Russia Business Forum to explore cooperation in innovative technologies, mining, and transport links. Discussions on a Free Trade Agreement with the Eurasian Economic Union are also likely.
Energy cooperation remains a critical pillar. Talks are expected to cover securing long-term crude oil contracts, expanding the construction of new units at the Kudankulam Nuclear Power Plant, and exploring the transfer of technology for Small Modular Reactors (SMRs). The leaders will seek mechanisms to shield financial transactions from external pressure, including exploring Rupee-Rouble and third-country currency settlement systems.
Defence Ties and Strategic Security
Defence and security cooperation will remain central to the summit. Officials are expected to review the progress of existing contracts and discuss new procurements. High on the agenda are discussions surrounding the delivery of additional S-400 Triumf air defence missile systems, as well as joint projects like the BrahMos supersonic cruise missile. The talks are a critical exercise for India to secure spares and maintenance support for the significant portion of its military hardware that is of Russian origin.
Beyond bilateral issues, the leaders will exchange views on major regional and global developments, including the ongoing conflict in Ukraine. PM Modi is expected to reiterate India’s consistent stance calling for dialogue and diplomacy to resolve the conflict. Other deliverables expected from the summit include the finalisation of a labour mobility agreement to facilitate the movement of Indian skilled workers to Russia, and a joint statement outlining the path for the future of the partnership.
