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India, Russia agree to boost trade, investments after Modi-Putin talks

FP News Desk December 5, 2025, 14:56:35 IST

PM Modi said that India and Russia have agreed to work on the early conclusion of the Free Trade Agreement with the Eurasian Economic Union. He also announced that the two sides have agreed on a 2030 Economic Programme aimed at diversifying investments and trade

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PM Modi and Russia's Putin enjoy carpooling together after they leave the airport and make their way to PM's official residence. Image Courtesy: @MEAIndia/X
PM Modi and Russia's Putin enjoy carpooling together after they leave the airport and make their way to PM's official residence. Image Courtesy: @MEAIndia/X

Prime Minister Modi on Thursday called for strengthened ties with Russia as he held a press conference with President Vladimir Putin, who is on a visit to New Delhi. Describing the India-Russia ties as “steadfast like a pole star”, PM Modi said that despite ups and downs, the friendship between the two countries has stayed strong.

“We have love and respect for each other. Over the past 8 decades, the world has witnessed numerous ups and downs. Humanity has had to pass through many challenges and crises. And amidst all this, the India-Russia friendship has remained steadfast like a pole star,” PM Modi said.

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Putin’s second day in India was marked by a ceremonial welcome at the Rashtrapati Bhavan forecourt in the presence of PM Modi, President Droupadi Murmu and the Indian as well as the Russian delegation. This was followed by Putin’s visit to Rajghat, where he paid respect to Mahatma Gandhi. PM Modi held a bilateral meeting with the Russian president in Hyderabad House.

‘India-US working toward FTA’

PM Modi said that India and Russia have agreed to work on the early conclusion of the Free Trade Agreement with the Eurasian Economic Union. He also announced that the two sides have agreed on a 2030 Economic Programme aimed at diversifying investments and trade.

PM Modi added, “Energy security has been a strong and important pillar of the India-Russia partnership. Our decades-old cooperation in civil nuclear energy has been crucial in realising our shared clean energy priorities. We will continue this win-win cooperation.”

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He further said that cooperation in shipbuilding is on India and Russia’s top priority, adding that the process would create more jobs in India. PM Modi announced the launch of a free 30-day e-tourist visa and group tourist visa for Russian citizens program to boost tourism between the two countries.

What did Putin say?

Meanwhile, President Putin has said that Russia is working on a project to build the largest Indian nuclear plant, adding that three out of six reactors have already been connected to the energy network.

Talking about India-Russia trade, Putin said, “Last year, our bilateral trade turnover has grown by 12%, setting another record according to different data. This number may look different, but it is generally around 64 billion US dollars. Currently, we are forecasting that the results of this year will remain at the same impressive level.”

As US pulls up India for buying Russian oil, Putin said, “We are ready to continue uninterrupted shipments of fuel for the growing Indian economy.”

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