Foreign Minister S. Jaishankar met President Vladimir Putin in Moscow, pledging to expand cooperation in trade, energy and fertilizer supplies before the upcoming BRICS summit. The talks highlighted a four‑fold increase in bilateral trade and a renewed focus on narrowing the trade deficit.
- Bilaterally traded value surged from $13 bn in 2021‑22 to nearly $60 bn in 2025‑26.
- Russia commits to increased fertilizer shipments to support Indian farmers.
- Trade imbalance widened to over $50 bn; a $100 bn target set for 2030.
High‑level talks in Moscow
During a two‑day visit, External Affairs Minister S. Jaishankar co‑chaired the 27th India‑Russia Inter‑Governmental Commission (IRIGC) alongside First Deputy Prime Minister Denis Manturov and met President Vladimir Putin. The agenda covered trade, energy, scientific‑technological and cultural cooperation.
Trade skyrockets
Jaishankar noted that bilateral trade has multiplied four times in five years, reaching almost $60 bn in the 2025‑26 fiscal year. He described the growth as “exceptionally positive” and urged both sides to address the widening trade gap.
Energy and fertilizer cooperation
Putin reiterated Russia’s readiness to expand fertilizer supplies, aiming to meet the needs of Indian agriculture. Energy projects, including gas pipelines and joint investments, were also on the table.
Why This Matters
BozokMedia analysis shows that the accelerated India‑Russia partnership not only diversifies Delhi’s supply chain away from traditional western sources but also creates a strategic buffer in the evolving geopolitical landscape of Eurasia.
"A robust trade foundation will shield both economies from global shocks," said international economist Dr. Anita Singh.
Historical Background
India‑Russia ties date back to the 1950s, but trade volumes dipped in the early 2000s. Post‑2020, both nations revived their strategic partnership, especially in defence, energy and space, driving a 15 % annual growth in trade during 2022‑23.
Frequently Asked Questions
Q1: What is the bilateral trade target for 2030?
A: Both countries aim for $100 bn in total trade.
Q2: Who benefits most from increased fertilizer supplies?
A: Indian farmers and the broader agricultural sector.
