President Vladimir Putin’s recent visit to India stands out as a defining moment in the long-standing partnership between the two nations. At a time when global geopolitical alignments are undergoing profound transformation, the visit reaffirmed the strategic depth, economic potential, and future trajectory of India–Russia cooperation. Far from being a ceremonial engagement, the visit laid the foundation for a renewed and expansive framework of collaboration across trade, technology, industry, connectivity, and financial systems.
In his address at the Business Forum, President Putin made it clear that the Russian delegation had not come merely to negotiate energy supplies or finalize oil and gas contracts. Rather, Russia sought to explore India’s multidimensional economic landscape and expand cooperation across diverse sectors of mutual benefit. He underscored that Russia views India as a long-term partner with which trade volumes are rising at a remarkable pace—having grown by 80 percent over the past three years, reaching a historic 64 billion dollars in bilateral trade last year .
Putin highlighted India’s strong economic fundamentals, noting that the country’s GDP has nearly doubled in the last decade, while its purchasing power has surged 2.5 times. These figures, he emphasized, reflect India’s rising global economic stature and create new opportunities for deepened Russian engagement . He also remarked that Russia is closely studying India’s development model—particularly its achievements in manufacturing, IT, pharmaceuticals, and industrial localisation—and applying these insights to its own national programmes for import substitution and high–value production .
One of the most important outcomes of the visit was the shared commitment to increase bilateral trade to 100 billion dollars by 2030. To achieve this ambitious target, both sides stressed the importance of national currency settlements, which offer uninterrupted financial transactions regardless of external pressures or geopolitical fluctuations . This shift toward de-dollarised trade not only strengthens financial sovereignty but also ensures long-term stability for businesses on both sides.
Connectivity emerged as another central pillar of future cooperation. Putin underlined the transformative potential of the International North–South Transport Corridor (INSTC) and ongoing modernization of the Northern Sea Route, envisioned as reliable channels for transporting Indian goods to global markets with greater efficiency and reduced costs . These initiatives signal a new era in Eurasian connectivity where India and Russia will play leading roles.
Equally significant was the Russian assurance that Indian goods and services will receive expanded access to Russian markets. The Russian business community, Putin affirmed, is prepared to significantly scale up imports from India across a wide spectrum of industries, while Moscow’s ministries stand ready to support enterprises engaged in productive bilateral exchanges .
President Putin’s visit ultimately reaffirmed that India–Russia relations are not relics of the past, but strategic investments in the future. The partnership today is driven by shared economic interests, technological complementarities, and a mutual commitment to a multipolar global order. As both countries navigate new geopolitical realities, this visit has produced a clear, forward-looking roadmap—anchored in trust, economic interdependence, and strategic alignment.
In essence, the visit has revitalized a historic partnership and positioned it for expansion in the decade ahead. It signals that India and Russia, together, remain key architects of stability, connectivity, and balanced growth across the broader Eurasian region.DD
