Prime Minister Narendra Modi met with Russian President Vladimir Putin on Tuesday (October 22) for a bilateral discussion on the sidelines of the BRICS summit. During their talks, Modi said that the Russia-Ukraine conflict should be resolved peacefully and expressed India’s readiness to assist in any way possible to achieve that goal.
“We are in constant touch on the issue of the ongoing conflict between Russia and Ukraine,” he said.
“As I have said before, we believe that problems should be resolved in a peaceful manner. We fully support the early return of peace and stability […] We fully support the early return of peace and stability. All our efforts give priority to humanity. India is ready to provide all possible cooperation in times to come,” he said.
Later, in a post on social media platform X (formerly Twitter), PM Modi said, “Had an excellent meeting with President Putin. The bond between India and Russia is deep-rooted. Our talks focussed on how to add even more vigour to our bilateral partnership across diverse sectors.”
India-Russia areas of bilateral cooperation
India and Russia have multiple areas where they cooperate, more so since the advent of the war and the sanctions on Moscow by the West.
In July, during Modi’s visit to Russia, the two nations set a target of $100 billion in bilateral trade by the end of 2030. India’s imports from Russia totaled $61.43 billion in 2023, a 33 per cent increase from the previous year. Exports to Russia also grew by over 35 per cent, reaching $4.3 billion in fiscal year 2024.
Russia has become India’s largest crude oil supplier as trade ties shift away from Europe due to political tensions over the Ukraine conflict. In 2023, India imported 176 million tons of thermal coal, with Russian exports to India increasing to 26.2 million tons from 20 million tons in 2022, according to Russia’s energy ministry.
Defense remains a key area of collaboration, with Russia providing over 50 per cent of India’s in-service military equipment.
According to Chatham House, India is the largest buyer of Russian arms, including the S-400 missile defense system. The two countries have also engaged in joint production of defense platforms like the BrahMos supersonic cruise missile, which has begun to be exported to other countries, starting with the Philippines.
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BRICS summit 2024: In Modi-Putin meeting, Ukraine and Indo-Russia bilateral cooperation in focus
