New Delhi: In a landmark development that signals a significant deepening of bilateral ties, India and Russia have formally announced a comprehensive economic cooperation programme designed to guide, expand and transform their partnership through 2030. The announcement followed extensive and high-level discussions between Prime Minister Narendra Modi and Russian President Vladimir Putin in New Delhi during the 23rd India–Russia Annual Summit. Both leaders described the new framework as a decisive step into a future where economic, technological, industrial and energy cooperation will form the backbone of a rapidly evolving relationship that has stood firm through global turbulence and shifting geopolitical equations. The newly adopted programme aims not just to strengthen traditional areas of engagement but to catapult the partnership into emerging sectors that will shape the next decade of growth for both nations.
Prime Minister Modi stated that India and Russia have agreed on a dedicated long-term economic cooperation programme explicitly designed to expand bilateral trade till 2030. He reaffirmed that both nations are working toward the ambitious goals set by their leadership achieving $50 billion in mutual investments by 2025 and scaling annual bilateral trade to $100 billion by the end of this decade. Modi also emphasized India’s strong push for an early conclusion of the Free Trade Agreement with the Eurasian Economic Union, a move that could significantly lower trade barriers and open new avenues for Indian exporters. These targets and initiatives together mark one of the most aggressive trade expansions plans ever undertaken between the two countries, reflecting a shared commitment to elevating economic cooperation to unprecedented levels.
A key highlight of the summit was the signing of several wide-ranging agreements across crucial areas such as fertilizers, chemicals, food safety, medical sciences, shipping, and maritime operations. One of the most notable outcomes was the agreement between Indian firms and Russia’s URALCHEM to establish a urea manufacturing plant in Russia. This development is expected to secure a stable and long-term supply of fertilizers for India, shielding the country from the unpredictability of global price fluctuations and supply disruptions. Both countries also strengthened regulatory cooperation, with MoUs signed between agencies including India’s FSSAI and Russia’s consumer protection body. The signing of agreements in port development and maritime training underscores a renewed thrust on improving logistics, transport corridors and maritime connectivity, areas that will be essential for supporting the enormous trade targets outlined for the next decade.
Energy cooperation emerged as a key pillar of the discussions, with Russian President Vladimir Putin assuring India of uninterrupted fuel supplies despite global market volatility. This assurance is vital as India has become one of the largest purchasers of Russian crude in recent years, benefitting from discounted prices amid Western sanctions. Putin underscored Russia’s readiness to ensure continuous shipments of fuel for India’s expanding economy, noting that energy security will remain a defining aspect of bilateral engagement. The reassurance from Moscow reinforces India’s strategic interest in maintaining diverse and reliable energy sources to meet the demands of its rapidly growing industrial and consumer sectors.
A major milestone of the summit was the adoption of a long-term programme for the development of strategic areas of India–Russia economic cooperation till 2030. This roadmap covers an expansive range of priorities including industrial manufacturing partnerships, supply chain integration, technology transfer, food processing collaborations, maritime corridor expansion and enhanced cooperation among regulatory bodies. The two leaders also reviewed progress in defense cooperation, nuclear energy collaboration, space exploration partnerships, and other traditional pillars of the India-Russia relationship, while exchanging perspectives on emerging global and regional dynamics. The renewed emphasis on long-term planning marks a shift from transactional engagements to structured, future-oriented cooperation built on sustained strategic alignment.
Russia also announced its decision to join India’s International Big Cat Alliance, a global conservation initiative launched by India to protect big cats such as tigers, lions, leopards and snow leopards. This development adds a multilateral dimension to the bilateral summit, showcasing cooperation beyond politics and economics, and reflecting shared commitments on environmental and wildlife protection. India welcomed Russia’s participation as a sign of growing global recognition for the initiative.
President Putin, after his meeting with Prime Minister Modi, declared that both countries are determined to raise their annual bilateral trade volume to $100 billion. Although acknowledging that this is a challenging target, he insisted that it is entirely achievable if both sides work together to align their economic strengths. Analysts believe that boosting Indian exports, reducing trade imbalances, developing direct maritime routes and enhancing banking and payment mechanisms independent of Western sanctions will be critical to reaching this goal. Putin praised the warm and personal rapport he shares with Modi, noting that the discussions, including their private dinner conversation the previous night, were held in a constructive and friendly atmosphere that reflects the "especially privileged" strategic partnership between the two countries.
Experts observing the summit noted that the India–Russia relationship, traditionally anchored in defense and commodity trade, is now entering a bold new technological era. According to industry voices such as Gleb Borukhov of Realia Capital Group, the partnership is transitioning toward high-technology collaboration in sectors like advanced manufacturing, digital innovation, industrial machinery, pharmaceuticals, and space technologies. This evolution is being driven by India’s rapid technological rise and Russia’s interest in diversifying its economic engagements in the face of global sanctions and shifting economic realities. The 2030 roadmap is expected to accelerate this shift and bring both nations into deeper synergy as they prepare for a world increasingly shaped by technological capability.
Addressing the India–Russia Business Forum, President Putin praised India’s sovereign and independent foreign policy under the leadership of Prime Minister Modi, stating that India is one of the world's fastest-growing economies and is steadily becoming technologically self-reliant through initiatives such as Make in India. He stressed that the Russian delegation had not come merely to sign energy contracts but to engage across a wide spectrum of sectors where both countries see immense unrealized potential. Putin noted that India’s expanding economic opportunities have not been fully tapped and that this forum was an important step toward unlocking those possibilities.
Throughout the summit, Prime Minister Modi emphasized the enduring strength of India–Russia ties, saying that despite global upheavals, shifting alliances and geopolitical realignments over the past decade, the relationship has remained steady, reliable and deeply rooted. Modi recalled that it was President Putin who had laid the foundation of the modern India–Russia strategic partnership nearly 25 years ago, a vision that has today matured into a multifaceted and resilient alliance capable of adapting to global challenges and embracing new areas of collaboration.
As the summit concluded, it became evident that India and Russia are preparing for a transformative decade that could redefine the economic and strategic contours of their partnership. With aggressive trade targets, strengthened energy security, new industrial collaborations, expanded maritime linkages, regulatory harmonisation, environmental cooperation and a strong personal bond between the two leaders, the India–Russia relationship is poised to enter one of its most dynamic and consequential phases. The long-term 2030 programme affirms that both countries view each other not just as historical partners, but as essential collaborators in shaping a stable, multipolar and technologically advanced future.