Prime Minister Narendra Modi and Russian President Vladimir Putin met in New Delhi on Friday ahead of the 18th BRICS Summit, with bilateral cooperation, the $100 billion trade target and key regional conflicts high on the agenda. The two leaders shared a warm hug before beginning their talks, their second meeting this year. They had earlier met on the sidelines of the 26th SCO Summit in Bishkek on August 31.
During the meeting, PM Modi gifted Putin a Russian translation of the Thirukkural, the celebrated work of Tamil poet and philosopher Thiruvalluvar. The classic contains 1,330 couplets covering themes including ethics, governance, agriculture, farmers and the conduct of life.
According to sources, the leaders reviewed progress in politics, the economy, defence, energy, space, mobility, and people-to-people cooperation. They also discussed regional developments, including the ongoing conflicts in West Asia and the Black Sea region.
Can India and Russia reach $100 billion in trade by 2030?
An ambitious expansion of the India-Russia economic partnership was expected to be a key focus of the talks, with both countries targeting bilateral trade of $100 billion by 2030, according to sources.
The discussions come shortly after the first INNOPROM India 2026 industrial exhibition, held in New Delhi from September 9 to 11. The event aimed to create new business-to-business opportunities and strengthen industrial ties between companies from the two countries.
New Delhi is also seeking greater Russian investment and wider access to the Russian market for Indian products. The two sides are expected to explore ways to increase Indian exports and create more opportunities for businesses in both countries.
Rail, tunnelling and steel cooperation
Industrial cooperation is another major area of focus. India and Russia are expected to explore greater collaboration in railways, tunnelling and infrastructure, along with the development of an integrated steel value chain.
The two countries have already discussed cooperation in railway infrastructure, including the Vande Bharat project and signalling equipment. Recent industrial talks also covered mining, aluminium, critical minerals and industrial equipment.
Steel is emerging as another area with scope for deeper cooperation, covering raw materials, metallurgical technologies, speciality steel, research and development and advanced steel technologies. A dedicated session on the steel value chain was also held during INNOPROM India this week.
Nuclear cooperation, skilled workers and critical minerals
Civil nuclear cooperation is expected to feature prominently in the discussions. The two sides are looking to strengthen collaboration across the nuclear fuel cycle and provide life-cycle support for nuclear projects.
India and Russia are also seeking greater localisation and wider industrial participation in civilian nuclear energy.
Mobility and skilled labour are another focus area, with discussions expected on increasing the movement of skilled Indian workers to Russia.
Critical minerals and rare earths are also gaining importance in the bilateral relationship. India is looking to diversify supplies of minerals required for strategic and high-technology industries, while Russia could become an important source of minerals that are not readily available domestically.
The two countries have already discussed cooperation in rare earths, lithium, titanium and other critical minerals.
Why are fertilisers important for India-Russia ties?
Fertiliser cooperation is expected to receive particular attention given Russia’s importance as a supplier to India. The two countries are considering strategic joint-venture projects aimed at strengthening cooperation and ensuring long-term supplies.
The discussions are part of a broader effort to expand economic ties beyond traditional areas and create new avenues for investment, industrial cooperation and trade.
Before their Bishkek meeting, PM Modi and Putin had met in New Delhi for the 23rd Annual Summit in December 2025.
At their August 31 meeting in Bishkek, the two leaders welcomed the outcome of the 27th India-Russia Inter-Governmental Commission on Trade, Economic and Cultural matters, held in Moscow on August 24.
They also discussed India-Russia engagement in multilateral forums, particularly BRICS under India’s chairship in 2026. The leaders exchanged views on key regional and global issues, including the conflicts in West Asia and the Black Sea region, which have affected maritime trade and the safety and security of Indian seafarers.
PM Modi had reiterated that dialogue and diplomacy were the way forward in resolving conflicts.
“The two leaders agreed to remain engaged to further strengthen the Special and Privileged Strategic Partnership between the two countries, which continues to register significant growth and has shown resilience in the backdrop of geopolitical uncertainties,” the Prime Minister’s Office (PMO) had stated after their August 31 meeting.
(With agencies’ inputs)
