Russia predicts significant progress in its economic and strategic relations with India during President Vladimir Putin's upcoming visit. Bilateral trade is expected to reach $100 billion by 2030, News.bg reports.
Kremlin spokesman Dmitry Peskov said that Moscow is ready to present a "significant set of documents" for signing during the visit. He stressed that Russia remains a key energy supplier to India and that oil trade continues despite geopolitical pressures.
“There may be minor drops from time to time, but we are finding ways not to let the volume of trade decrease“, assured Peskov, adding that Russia considers US sanctions “illegal under international law“ and will not allow foreign interference in trade relations between the two countries.
On defense, Peskov confirmed Moscow's readiness to share advances in military technology and described cooperation with India as “strong and developing“. He also expressed hope for continued progress on peaceful nuclear energy projects.
The spokesman acknowledged that there was a “real imbalance“ in bilateral trade, as Russia exports significantly more than it imports from India. To remedy this, Moscow plans to increase imports of Indian goods and services and will organize a forum of Russian importers before the visit to identify opportunities.
Peskov stressed the need for the two countries to "adhere to their respective interests" while deepening trade ties, including by strengthening transport and connectivity routes. He clarified that the recent tensions between the US and India over tariffs are "strictly bilateral" and will not affect Russian-Indian trade.