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India–Russia Strategic Partnership Expands Trade and Trust

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Excellency, my friend, President Putin,
representatives from both countries,
Friends of the media,
Namaskar!
“Dubri Dan”

I am happy to welcome President Putin to the 23rd India-Russia Summit today. His visit is taking place at a time when our bilateral relations are crossing many historic landmarks. Exactly 25 years ago, President Putin laid the foundation for our Strategic Partnership. Fifteen years ago, in 2010, our partnership was elevated to the status of “Special and Privileged Strategic Partnership.”

This history matters. Since 2000, our ties have grown from simple diplomacy to deep cooperation covering defence, energy, trade, culture and more. The 2010 upgrade cemented trust between our nations and opened room for greater collaboration in many fields.

For the last two-and-a-half decades, he has nurtured these relationships with his leadership and perspective. His leadership has brought our relationship to new heights in every situation. I express my heartfelt gratitude to President Putin for this close friendship and unwavering commitment to India.

Indeed, many analysts see India-Russia friendship as one of the most stable long-term partnerships in global diplomacy. Through wars, sanctions, and shifting alliances, this partnership has remained resilient, rooted in mutual respect and shared strategic interests.

Friends,

Over the last eight decades, the world has seen many ups and downs. Humanity has faced many challenges. And in the midst of all this, India-Russia friendship stands like a pole star. This relationship, built on mutual respect and deep faith, has always stood the test of time. Today, we discussed all aspects of cooperation to further strengthen this foundation. Taking economic cooperation to new heights is our shared priority. To achieve this, we have agreed to the Economic Cooperation Programme by 2030. This will make our trade and investment diversified, balanced and sustainable, and also add new dimensions to our areas of cooperation.

That is significant. In the financial year 2024-25, bilateral trade reportedly reached a record high — around US$68.7 billion. The new plan aims to push this even further by 2030. Experts say this shift away from over-relying on a few sectors to a broader trade basket — including agriculture, industry, technology, and critical minerals — will make trade more stable.

Today, President Putin and I will have the opportunity to attend the India-Russia trade forum. I am confident that this platform will strengthen our business relations. It will also open new doors for export, co-production and co-innovation.

Both sides are trying to conclude the early conclusion of an FTA with the Eurasian Economic Union (EAEU). Our close cooperation in agriculture and fertilisers is important for food security and farmer welfare. I am happy that, while carrying on this, both parties are now working together for urea production.

Recent reports confirm this push: Indian fertiliser firms are set to join hands with Russian companies to build a urea plant in Russia. This will boost India’s long-term supply of fertiliser, which is vital for its farmers and food production.

Friends,

Enhancing connectivity between our two countries is a top priority for us. We will move forward with new energy on the International North–South Transport Corridor (INSTC), the northern sea route and the Chennai‑Vladivostok Corridor. I am happy that we will now cooperate to train Indian sailors in polar waters. This will not only strengthen our cooperation in the Arctic but will also create new employment opportunities for Indian youth.

Such transport corridors matter. They can cut shipping times, reduce costs, and diversify routes — especially important when traditional routes face disruption or geopolitical risk. Development of these corridors signals a push for stronger trade links beyond oil and defence, reaching other goods, raw materials, and technology.

Similarly, our deep collaboration in shipbuilding has the potential to strengthen Make in India. This is another excellent example of our win-win cooperation, which will strengthen jobs, skills, and regional engagement.

Energy security has been a strong and important pillar of the India–Russia partnership. Our decades-old cooperation in the field of civil nuclear power has been critical in realising our shared priorities of clean energy. We will continue to support this win-win.

Indeed, the cooperation on civil nuclear energy goes back decades. The ongoing projects at the Kudankulam Nuclear Power Plant in Tamil Nadu — built with Russian help — show how cooperation has helped India meet energy and clean-power goals.

Our cooperation in critical minerals is critical to ensure a safe and varied supply chain around the world. This will provide strong support to our partnership in clean energy, high-tech manufacturing and new-era industries.

Critical minerals like lithium, cobalt, and rare earths are vital for modern tech, electronics, EVs and renewable energy. Russia’s advanced mining and processing can help India diversify its supply for these essential materials.

Friends,

Our cultural cooperation and people-to-people ties have played an important role in India-Russia relations. For decades, there has been a deep sense of affection, respect and intimacy between the people of our two countries. We have taken several new steps to strengthen these relationships.

Recently, two new Indian consulates were opened in Russia. This will facilitate connectivity between the citizens of the two countries and promote close ties. In October this year, millions of pilgrims at the International Buddhist Forum in Russia’s Republic of Kalmykia received the blessings of Buddha’s holy remains.

I am happy that we will soon launch a free 30-day e-tourist visa and a 30-day group tourist visa for Russian citizens.

Manpower will not only connect our people but will also create new powers and opportunities for both countries. I am happy that two agreements have been signed today to promote this. We will also work together on vocational education, skills and training. We will also enhance the interaction of students, scholars and athletes from both countries.

People-to-people ties — through student exchange, tourism, culture — often create deeper trust beyond politics and business. New visa rules and educational links can make it easier for people to travel, study and work.

Friends,

Today, we also discussed regional and global issues. India has always advocated peace in Ukraine. We welcome all efforts to resolve this issue peacefully and permanently. India has always been ready to contribute and will continue to contribute.

India and Russia have long-term cooperation in the fight against terrorism. Be it the terrorist attack in Pahalgam or the cowardly attack on the Crocus City Hall, the root of all these incidents is the same. India firmly believes that terrorism is a direct attack on the values of humanity, and global unity is our greatest strength against it.

India and Russia have close cooperation at the United Nations (UN), BRICS, Shanghai Cooperation Organisation (SCO) and other forums. Moving forward in close coordination, we will continue our dialogue and cooperation on all these forums.

Global cooperation on peace, security and humanitarian issues remains important. The India–Russia tie often plays a key role in shaping global diplomacy and multilateral decisions.

Your Excellency,

I am confident that in the coming times, our friendship will give us the strength to face global challenges — and this confidence will enrich our shared future.

I once again thank you and your entire delegation for their visit to India.