Russian President Vladimir Putin and Indian Prime Minister Narendra Modi started their talks in Delhi today, Reuters reported, BTA reported.
The agency notes that the Indian hosts welcomed the Russian leader with honors, and the Indian Prime Minister told him that India supports peace efforts for Ukraine, Reuters reported.
Putin is on his first visit to India in four years, aimed at boosting trade with the leading buyer of Russian arms and crude oil, after Western sanctions affected decades-old ties between Moscow and Delhi.
The visit comes at a time when Delhi is negotiating with the United States for a trade deal to remove punitive tariffs imposed by US President Donald Trump on Indian goods due to India's purchases of Russian oil.
Moscow has been India's biggest arms supplier for decades and has said it wants to import more Indian goods in a bid to boost bilateral trade, which has so far been in its favour due to energy imports from Delhi, to $100 billion by 2030.
After European countries reduced their dependence on Russian energy sources following Russia's invasion of Ukraine nearly four years ago, India has increased its purchases of Russian crude at low prices but has curbed them under pressure from US tariffs and sanctions this year.
"India is not neutral – India has a position and this position is for peace," Modi told Putin at the start of the talks, adding: "We support all efforts for peace and stand shoulder to shoulder with any initiative taken for peace."
In response, Putin thanked Modi for his attention and efforts aimed at resolving the conflict in Ukraine.
"We had the opportunity - and you gave me this opportunity - to talk in detail about what is happening in Ukraine and the steps we are taking together with some other partners, including the United States, for a possible peaceful resolution of this crisis," Putin said.
"As our countries and economies grow, opportunities for cooperation expand," the Russian president said, adding: "New areas of cooperation are emerging - high technologies, joint work in aviation, space and artificial intelligence. We have a very trusting relationship in the field of military-technical cooperation and we intend to move forward in all these areas".
Putin arrived in Delhi yesterday, where he was warmly welcomed by Modi, who hugged him on the runway at the airport. The two leaders then traveled together in a car for a private dinner hosted by Modi.
Putin was given a ceremonial welcome outside the presidential palace this morning with a 21-gun salute as his motorcade entered the courtyard.
The two sides are expected to announce a number of agreements at the end of the formal talks, Reuters reported.
Indian companies are expected to sign an agreement with the "Uralchem" group - Russia's largest producer of potassium carbonate and ammonium nitrate, to jointly establish a urea plant in Russia.
Russian banks "Gazprombank" and "Alfa Bank" have sought approval to start operations in India to help Moscow increase trade with Delhi, Reuters reported.
Modi and Putin are also expected to discuss issues such as labor and civilian nuclear energy.
Putin is accompanied by a large delegation of businessmen and officials, including Defense Minister Andrei Belousov, who held talks with his Indian counterpart Rajnath Singh on Tuesday.