New delhi: India and Russia have agreed to enhance their bilateral cooperation across various domains following the India-Russia Annual Summit held in New Delhi. This development comes after a meeting between Indian Prime Minister Narendra Modi and Russian President Vladimir Putin.
According to Kuwait News Agency, Modi emphasized the enduring nature of the India-Russia relationship, describing it as unwavering over the past eight decades. During a joint press conference with Putin, Modi highlighted the mutual respect and trust that form the foundation of their relations, asserting that these ties have withstood the test of time.
Modi also stressed the importance of elevating the economic partnership between the two nations. He announced a joint commitment to an India-Russia economic cooperation program extending up to 2030. Modi expressed India's stance on global conflicts, particularly the Ukraine war, stating India's consistent support for peace and its alignment with efforts to achieve it.
President Putin, during the Summit, underscored the priority both countries place on cooperation in security, economy, trade, and culture. He mentioned a mutual objective to boost annual bilateral trade to USD 100 billion and noted the gradual shift towards using national currencies for bilateral transactions.
Amidst tensions between India and the US over India's purchase of Russian oil and gas, Putin assured India of a steady fuel supply essential for its energy needs. He affirmed Russia's commitment to continue providing oil, gas, and coal to support India's burgeoning economy.
Additionally, Putin expressed Russia's willingness to collaborate with India in establishing new international logistics routes and in the construction of small modular nuclear reactors and floating nuclear power plants. Several agreements were signed to fortify economic, trade, defense, media, and cultural ties, with numerous ministerial-level meetings taking place to further these discussions.