‘India Not Neutral, We’re On The Side Of Peace’: PM Modi To President Putin On Ukraine

Last Updated:December 05, 2025, 15:15 IST

President Putin thanked Modi for the invitation, expressing appreciation for the warm welcome extended to him and his delegation during their visit

Prime Minister Narendra Modi on Friday announced that India and Russia have agreed on a 2030 Economic Cooperation Programme aimed at diversifying bilateral trade and investment after his talks with President Vladimir Putin in New Delhi. Modi said the roadmap will accelerate growth across priority sectors and deepen long-term economic engagement between the two countries.

Modi said India will actively participate in the India–Russia Business Forum, which he described as a platform that will strengthen co-production and co-innovation initiatives between Indian and Russian industries. The two leaders also discussed the early finalisation of a Free Trade Agreement (FTA) to further ease market access and boost economic flows.

The Prime Minister said both sides are taking forward efforts on joint urea production, as well as connectivity corridors such as the International North-South Transport Corridor (INSTC), the Northern Sea Route, and the Chennai–Vladivostok maritime link, all of which, he said, will play a key role in reshaping supply chains.

Modi added that shipbuilding will be a priority area under the partnership, as it directly contributes to Make in India and will help create jobs and new skills domestically. He also noted that cooperation in civil nuclear energy, already spanning more than a decade, will continue, along with collaboration in critical minerals and resilient supply chains.

Highlighting the longstanding cultural warmth between the two nations, Modi said, “We have love and respect for each other.” He also announced that India has opened two new consulates in Russia to improve connectivity, mobility, and services for Indian citizens and businesses.

Responding to Modi’s remarks, President Vladimir Putin outlined the economic and energy pillars of the partnership, noting that Russian rubbles are being used for several large joint projects, thereby strengthening financial cooperation.

He emphasised Russia’s role as a reliable supplier of gas, oil and coal, adding, “We are ready to continue shipment.”

Putin also highlighted ongoing collaboration in nuclear energy, noting that Russia and India are already working together on the flagship Kudankulam project, which he said will help Indian consumers access “cheap and clean energy.”

Expanding on economic ties, Putin said the two countries had signed multiple new agreements to broaden cooperation across key sectors. He noted that bilateral trade had grown by 12 per cent last year, touching nearly 64 billion dollars. “I believe this year it will remain the same impressive number,” he added. This strong momentum, he said, informed the adoption of the 2030 Economic Cooperation Programme aimed at removing barriers to goods flow and boosting investments.

Putin added that Prime Minister Modi had shared a list of challenges that “deserve the most attention,” and assured that both governments would work on resolving them. He also underlined that India and Russia are moving towards settlement in national currencies — a shift he said will make bilateral trade more efficient and resilient.

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