New Delhi, Dec 5 (UNI) President Vladimir Putin said that Russia is witnessing a successful partnership in the energy sector with India and pledged to continue being a reliable supplier of oil, gas, coal, and other resources essential for India’s energy development.
“We are ready to continue uninterrupted shipments of fuel to support India’s fast-growing economy,” he said.
Putin on Friday said that his State visit to India, along with the agreements signed during bilateral talks with Prime Minister Narendra Modi, will further strengthen and deepen the Russia–India strategic partnership as both sides reviewed cooperation across a wide spectrum of sectors.
During a joint press address at Hyderabad House, President Putin said that he and Prime Minister Modi have developed a close and effective working dialogue. He recalled their earlier meeting this year at the Shanghai Cooperation Organisation (SCO) Summit in Tianjin, China.
“We and Prime Minister Modi established a close working dialogue in September when we were at the SCO Summit in Tianjin. We are personally overseeing key strategic developments and monitoring major bilateral projects,” Putin said.
Regarding nuclear energy, Putin said, “ We are also conducting a flagship project to build the largest Indian nuclear power plant, Kodankulam. Two out of six reactor units have been already connected to the energy network, and four are still under construction.”
Achieving full output will make a significant contribution to India’s energy requirements, providing cheap and clean energy for homes and industries. He also mentioned potential future projects, including small modular reactors, floating nuclear power plants, and non-energy applications of nuclear technology.
“In the joint statement we adopted with Prime Minister Modi, we outlined priority objectives for further strengthening our trade and economic cooperation. As you saw, we have signed a significant package of intergovernmental, interagency, and corporate agreements,” Putin said. He emphasized that many of these agreements aim to broaden economic cooperation between Russia and India, noting that bilateral trade turnover has grown by 12 percent, setting a new record.
“According to various estimates, the trade turnover is around $64 billion. We are confident that with coordinated efforts, we can reach $100 billion,” he said during a joint press statement with Prime Minister Narendra Modi at Hyderabad House.
He also pointed out that both countries have harmonized a development program for Russian-Indian economic cooperation until 2030, providing clear objectives for ministries, intergovernmental commissions, and economic agencies to remove barriers, implement joint projects, and deepen technology and innovation collaboration. Putin highlighted efforts to gradually increase the use of national currencies in bilateral trade, noting that 96 percent of commercial transactions are already conducted in Russian rubles and Indian rupees.
"We have established resilient channels of credit financial and interbanking cooperation. Russian economic operators have broadened the sphere of use of Indian rupees, which we receive from the fulfilment of export contracts. Russian rubles have been used to provide loans for large joint projects," he said.
On transport and logistics, Putin said Russia and India are developing new international transport routes, including the North-South corridor from Russia and Belarus to the Indian Ocean, and expanding trans-Arctic corridors, such as the Northern Sea Route, creating significant opportunities for trade. He highlighted joint initiatives in industry, machinery, digital technology, space exploration, and science-intensive sectors, including the construction of a large Russian-Indian pharmaceutical factory in Kaluga to produce anti-tumor drugs using advanced Indian technology. Conversely, Russian enterprises will contribute to India’s Make in India program by producing industrial products locally.
On humanitarian and cultural cooperation, Putin emphasized centuries-old ties between the peoples of Russia and India, including scientific, educational, and youth exchanges, as well as Russian-Indian film festivals and growing tourism flows. He also mentioned the launch of Russian TV channel RT in India to provide objective coverage of Russian developments. On global and regional issues, Putin noted that Russia and India conduct independent foreign policies and work together with BRICS, SCO, and other like-minded countries to promote a just and multipolar world order, respecting sovereignty and cultural identity.
He highlighted Russia’s support as India prepares to assume the BRICS chairship next year. Putin reaffirmed military-technical cooperation, noting Russia has been arming and modernizing the Indian armed forces, including the air force, navy, and air defense for the last half a century.
. He expressed confidence that the agreements reached during the visit will further deepen the Russian-Indian strategic partnership for the benefit of both countries and their peoples.UNI AAB