Russian President Vladimir Putin has praised India’s rapid economic growth and commended Prime Minister Narendra Modi’s leadership, describing India’s progress as the outcome of sustained policy effort and governance. His remarks were made during a high-profile forum in St. Petersburg on Thursday, where he also expressed confidence in expanding bilateral trade between the two countries.
Putin said India is among the world’s leading economies and is currently recording some of the highest rates of economic growth globally. He attributed this trajectory not to chance but to what he described as “hard work” undertaken by the Indian government under Prime Minister Modi’s leadership. His comments come amid deepening economic engagement between New Delhi and Moscow despite shifting global geopolitical alignments.
The Russian President also outlined an ambitious target of increasing bilateral trade with India to $100 billion in the coming years. He noted that current trade levels stand at approximately $58–60 billion, but said both countries already have a strong foundation to significantly scale up economic cooperation across multiple sectors.
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Energy cooperation was highlighted as a central pillar of the India-Russia economic relationship. Putin specifically referenced ongoing collaboration in nuclear energy, including the Kudankulam Nuclear Power Plant project, and indicated that further joint initiatives in hydrocarbons and energy infrastructure are expected to follow as part of long-term strategic planning.
Beyond energy, Putin emphasised that the economic partnership between the two countries is broadening, with both sides exploring new avenues for trade expansion. He described India as an “indispensable partner” for Russia, signalling Moscow’s intent to strengthen economic ties despite Western sanctions and global economic fragmentation.
Addressing questions on whether India’s growing relationship with the United States could affect ties with Russia, Putin dismissed concerns, saying it is natural for India to pursue independent foreign relations based on its national interests. He added that Russia welcomes India’s engagement with other countries and does not view it as conflicting with their bilateral relationship.
India has long followed a policy of strategic autonomy, maintaining independent ties with major global powers including the US and Russia. Putin’s remarks underline the continued importance of the India-Russia partnership, particularly in energy and trade, even as global alliances evolve and geopolitical competition intensifies.
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