Russian President Vladimir Putin is set to meet with Prime Minister Narendra Modi in New Delhi on Friday, with the aim of enhancing trade relations as Western sanctions challenge their traditional partnership. This visit marks Putin’s first trip to India in four years, coinciding with ongoing discussions between New Delhi and Washington regarding a trade agreement intended to alleviate tariffs imposed by former President Donald Trump on Indian goods connected to the nation’s purchases of Russian oil.
For decades, Moscow has been India’s primary supplier of military equipment and has expressed interest in increasing imports of Indian goods, with a goal of raising bilateral trade to $100 billion by 2030. However, the trade dynamic has heavily favored Russia, largely due to India’s substantial energy imports. Following Russia’s invasion of Ukraine nearly four years ago, many European nations have decreased their energy dependence on Russia, which has allowed India to increase its purchases of discounted Russian crude oil.
Michael Kugelman, a senior fellow at the Atlantic Council, highlighted the challenges faced by India in balancing its relationships, suggesting that strengthening ties with either Moscow or Washington could jeopardize its relationship with the other.
In addition to trade, Modi and Putin are expected to tackle various topics such as labor relations and civil nuclear energy, with potential agreements to be announced that would showcase the resilience and depth of their partnership. This summit signifies an important moment for both nations as they navigate a shifting global landscape and seek to reinforce their long-standing ties amidst geopolitical pressures.