India and Russia Forge 2030 Roadmap Amid Global Shifts
NEW DELHI – In a powerful display of strategic autonomy, Prime Minister Narendra Modi and Russian President Vladimir Putin concluded the 23rd India-Russia Annual Summit in New Delhi this week, solidifying a comprehensive roadmap for their “Special and Privileged Strategic Partnership.” The meeting delivered a strong message to the world: the decades-old bond between the two nations remains resolute and is transitioning into a futuristic model of joint economic and technological collaboration.
The summit’s most significant outcome was the finalization of the “Programme for the Development of Strategic Areas of India-Russia Economic Cooperation till 2030.” This ambitious plan aims to increase annual bilateral trade to $\$100$ billion by the end of the decade, a colossal jump from the current $\$68.7$ billion (FY 2024-25), which is heavily skewed by Indian oil imports.
“Our economic partnership is a common priority,” PM Modi stated, emphasizing that the new program is designed to make trade “more diversified, balanced, and sustainable.”
To address the current trade imbalance and boost Indian exports, both leaders agreed to:
• Fast-track a Free Trade Agreement (FTA) between India and the Russia-led Eurasian Economic Union (EAEU).
• Resolve logistical and payment bottlenecks, with a commitment to increasing the use of national currencies (rupee and ruble) for settlements—a major step toward insulating trade from external financial pressures. Currently, around 96% of transactions are already conducted in national currencies.
• Promote Indian exports in sectors like pharmaceuticals, agriculture, textiles, and marine products, with Russia agreeing to actively remove non-tariff barriers.
The energy pillar remains crucial. President Putin affirmed Russia’s readiness to ensure “uninterrupted shipments of fuel” and proposed expanding cooperation in civil nuclear energy, including the potential for joint construction of small modular reactors and floating nuclear power plants.
The defence partnership, the historical backbone of the relationship, is undergoing a fundamental reorientation. The focus is shifting from a simple buyer-seller model to one centred on joint Research & Development (R&D), co-development, and co-production.
The joint statement underlined plans to encourage joint manufacturing in India of spare parts, components, and aggregates for Russian-origin military equipment already in India’s inventory. This move aligns perfectly with India’s ‘Make in India’ initiative and aims not only to meet the needs of the Indian Armed Forces but also to explore exports to “mutually friendly third countries.”
While no new major defence contracts were signed at the summit, high-level discussions covered the potential for additional batches of the S-400 ‘Triumf’ air defence system and the joint production of advanced variants of the BrahMos supersonic cruise missile.
The timing and content of the summit served as an unmistakable affirmation of India’s strategic autonomy amidst sustained geopolitical pressures, particularly from the West, to reduce engagement with Russia.
Both leaders underscored their commitment to a “just and democratic multipolar world order,” emphasizing that their partnership remains resilient against external constraints. The personal warmth and grand reception accorded to the Russian President by PM Modi, who received him personally, were widely interpreted as a symbolic rejection of any coercion to choose sides.
Key agreements also extended to:
• Migration and Mobility: Agreements were signed to facilitate the movement and employment of skilled workers between the two nations.
• Tourism: India announced the launch of a free 30-day e-tourist visa and a 30-day group tourist visa for Russian citizens.
• Arctic Cooperation: An agreement was signed to train Indian seafarers for polar waters, strengthening India’s presence and collaboration in the strategic Arctic region.
• In an era of flux and re-alignment, the Delhi Summit has not just reinforced the ‘Pole Star’ friendship but has equipped it with a practical, long-term economic and technological blueprint designed to navigate global turbulence and secure the mutual interests of both nations for the next decade.
