Russian President Vladimir Putin and Indian Prime Minister Narendra Modi agreed on Friday to expand and diversify trade beyond oil and defence, despite western pressure on New Delhi to scale back its decades-old ties with Moscow.
India, the world's top buyer of Russian arms and seaborne oil, rolled out the red carpet for Mr Putin's two-day state visit, his first to New Delhi since Russia's invasion of Ukraine in 2022.
The trip coincides with New Delhi's talks with the US on a trade deal to cut punitive tariffs imposed by President Donald Trump on its goods because India bought Russian oil.
Russia has said it wants to import more Indian goods in an effort to grow trade to $100 billion by 2030. Bilateral trade has so far been skewed in Moscow's favour due to New Delhi's energy imports. It reached $68.7 billion in 2024-25 – almost six times higher than pre-pandemic levels – but Indian exports accounted for only $4.88 billion.
Seated beside Mr Putin after their meeting, Mr Modi described India's enduring partnership with Russia as “a guiding star”.
“Based on mutual respect and deep trust, these relations have always stood the test of time,” the Indian Prime Minister told reporters.
He said India and Russia “have agreed on an economic co-operation programme for the period up to 2030”. He added: “This will make our trade and investment more diversified, balanced and sustainable.”
Mr Modi, who warmly embraced Mr Putin on the airport tarmac when he arrived on Thursday, also reiterated India's support for a peaceful resolution to the war in Ukraine.
Mr Putin said Russia would continue to ensure “uninterrupted fuel supplies” to India, signalling a defiant stance in the face of US sanctions, and also flagged a project under way to build India’s largest nuclear power plant at Kudankulam.
The Russian President said he had shared with Mr Modi “a great deal of details about the events taking place in Ukraine” and the efforts Moscow is taking “together with some partners, including the United States, on a possible peaceful settlement”.
“Thank you for the attention and for your efforts in finding a solution to this situation,” Mr Putin told Mr Modi, who replied that India was “on the side of peace”.
A joint statement issued following the summit said: “The leaders emphasised that in the current complex, tense and uncertain geopolitical situation, Russian-Indian ties remain resilient to external pressure.”
Mr Putin received a ceremonial welcome on Friday on the forecourt of Rashtrapati Bhavan, the colonial-era presidential palace, with a 21-gun salute as his convoy drove in.
A large business and government delegation accompanied Mr Putin. Among the deals signed, the two countries agreed to help Indians move to Russia for work; to set up a joint venture fertiliser plant in Russia; and boost co-operation in agriculture, health care and shipping.
They also agreed to reshape their defence ties to take account of New Delhi's push for self-reliance through joint research and development, as well as the production of advanced defence platforms. This would include joint production in India of spare parts, components, assemblies, and other products for servicing Russian weapons and military equipment.
In an interview with broadcaster India Today aired late on Thursday, Mr Putin challenged US pressure on India not to buy Russian fuel. “If the US has the right to buy our [nuclear] fuel, why shouldn't India have the same privilege?” he said, and added that he would discuss the matter with Mr Trump.
Energy trade with India is “running smoothly” despite a minor dip in the first nine months of 2025, he said.
India has said Mr Trump's tariffs are unjustified and unreasonable, noting continued US trade with Moscow. The US and European Union still import billions of dollars worth of Russian energy and commodities, ranging from liquefied natural gas to enriched uranium, despite economic sanctions.
As European countries sought to cut their reliance on Russian energy over the Ukraine war, India increased its purchases of discounted Russian crude oil, only to reduce them under pressure from US tariffs and sanctions this year.
“India faces a conundrum: by taking steps to strengthen ties with Moscow or Washington, New Delhi risks setting back ties with the other,” Michael Kugelman, senior fellow at the Atlantic Council think tank, wrote in Foreign Policy magazine.
