India
PM Modi, Putin agree to boost trade to $100 billion by 2030 – Times of India
Prime Minister Narendra Modes and Russian President Vladimir Putin reaffirmed his commitment to the resilient India-Russia Relations against the backdrop of a challenging and uncertain geopolitical situation, as they tried to manage the energy and trade relations and agreed to increase trade to $100 billion by 2030 from the current $65 billion. In a joint statement, they said they would focus on increased supplies of goods from India to Russia to address the trade imbalance.
While the agenda for the 22nd India-Russia summit was primarily economic, Modi also strongly demanded from Putin the release of all Indian nationals serving in the top brass. Russian armyExternal Affairs Minister Vinay Kwatra said there was a “sense of promise” from Russia over the early discharge of around 30-40 Indian nationals who are still in the country after they were “tricked” into joining the Russian army.
While the West kept a watchful eye and was disappointed that New Delhi did not sever economic ties with Moscow, the two sides also signed nine agreements, including one to facilitate investments by Russian companies in the Indian market. Modi thanked Putin for the continued supply of fertilizers to Indian farmers when the world was facing a crisis in fuel and energy sectorHe said that thanks to Russia-India cooperation, India could meet the needs of its citizens.
Modi said the world should recognise that India-Russia cooperation in the energy sector ensures stability in the global market. “In many countries of the world, people have problems with fuel, diesel, but thanks to our agreements with you in this area, in the energy sector, we were able to provide fuel to our citizens. And not only did we provide it, we were able to control inflation and ensure stability. For this I am very grateful to you,” he told Putin.
Kwatra said India was also looking at energy deals with Russian giants like Rosneft. “The two leaders, when they talked about energy cooperation, they focused on how exactly they could strengthen that partnership… how India could also build partnerships with Rosneft and other energy companies particularly through the government-to-government route,” the foreign minister said.
Discussing regional and global issues, they expressed their deep concern over the situation in Gaza and called for the unhindered delivery of humanitarian aid to the Palestinian civilian population in the Gaza Strip. At the same time, they demanded the immediate and unconditional release of hostages.
On the issue of Ukraine, the joint statement stressed the need for a peaceful resolution of the conflict “around Ukraine” through dialogue and diplomacy, involving the efforts of both sides.
As in the past, the Leaders unequivocally condemned terrorism and violent extremism that promotes terrorism in all its forms and manifestations, including the cross-border movement of terrorists, and terrorist financing networks and safe havens. “They strongly condemned the recent cowardly terrorist attack on an army convoy in the Kathua area of Jammu and Kashmir on July 8, in Dagestan on June 23 and on the Crocus City Hall in Moscow on March 22 and stressed that these terrorist attacks are a stark reminder for further strengthening cooperation to combat terrorism,” the joint statement said.
Modi also raised the issue of addressing the delay in supply of spare parts for Russian defence equipment with the Russian President. According to the joint statement by India and Russia, both sides agreed to encourage joint production in India of spare parts, components, aggregates and other products for servicing Russian weapons and defence equipment under the Make-in-India programme through technology transfer and setting up of joint ventures to meet the needs of the Indian armed forces.
While the agenda for the 22nd India-Russia summit was primarily economic, Modi also strongly demanded from Putin the release of all Indian nationals serving in the top brass. Russian armyExternal Affairs Minister Vinay Kwatra said there was a “sense of promise” from Russia over the early discharge of around 30-40 Indian nationals who are still in the country after they were “tricked” into joining the Russian army.
While the West kept a watchful eye and was disappointed that New Delhi did not sever economic ties with Moscow, the two sides also signed nine agreements, including one to facilitate investments by Russian companies in the Indian market. Modi thanked Putin for the continued supply of fertilizers to Indian farmers when the world was facing a crisis in fuel and energy sectorHe said that thanks to Russia-India cooperation, India could meet the needs of its citizens.
Modi said the world should recognise that India-Russia cooperation in the energy sector ensures stability in the global market. “In many countries of the world, people have problems with fuel, diesel, but thanks to our agreements with you in this area, in the energy sector, we were able to provide fuel to our citizens. And not only did we provide it, we were able to control inflation and ensure stability. For this I am very grateful to you,” he told Putin.
Kwatra said India was also looking at energy deals with Russian giants like Rosneft. “The two leaders, when they talked about energy cooperation, they focused on how exactly they could strengthen that partnership… how India could also build partnerships with Rosneft and other energy companies particularly through the government-to-government route,” the foreign minister said.
Discussing regional and global issues, they expressed their deep concern over the situation in Gaza and called for the unhindered delivery of humanitarian aid to the Palestinian civilian population in the Gaza Strip. At the same time, they demanded the immediate and unconditional release of hostages.
On the issue of Ukraine, the joint statement stressed the need for a peaceful resolution of the conflict “around Ukraine” through dialogue and diplomacy, involving the efforts of both sides.
As in the past, the Leaders unequivocally condemned terrorism and violent extremism that promotes terrorism in all its forms and manifestations, including the cross-border movement of terrorists, and terrorist financing networks and safe havens. “They strongly condemned the recent cowardly terrorist attack on an army convoy in the Kathua area of Jammu and Kashmir on July 8, in Dagestan on June 23 and on the Crocus City Hall in Moscow on March 22 and stressed that these terrorist attacks are a stark reminder for further strengthening cooperation to combat terrorism,” the joint statement said.
Modi also raised the issue of addressing the delay in supply of spare parts for Russian defence equipment with the Russian President. According to the joint statement by India and Russia, both sides agreed to encourage joint production in India of spare parts, components, aggregates and other products for servicing Russian weapons and defence equipment under the Make-in-India programme through technology transfer and setting up of joint ventures to meet the needs of the Indian armed forces.
