Modi raises Indian seafarers' safety with Putin, India-Russia trade target set at USD 100 billion by 2030
Prime Minister Narendra Modi on Friday raised the safety of Indian seafarers in the Black Sea with Russian President Vladimir Putin, reiterating India's readiness to support any peace initiative to end the Ukraine conflict as both leaders agreed to ramp up bilateral trade ties amid growing geopolitical upheaval.
The meeting took place hours after Putin landed in New Delhi on a three-day visit to participate in the high-stakes BRICS summit.
Following the talks, the two leaders travelled in the same car inside the Bharat Mandapam complex to reach the venue of a business forum.
In signalling their strong resolve to maintain deeper engagement in diverse sectors, the two leaders agreed to remain engaged in an effort to further strengthen the India-Russia Special and Privileged Strategic Partnership which continues to register "significant growth and has shown resilience in the backdrop of geopolitical uncertainties", according to an Indian readout.
While reviewing India-Russia trade and investment ties, the two sides resolved to meet the target of annual bilateral trade volume of USD 100 billion by 2030 from current USD 65 billion.
The Ministry of External Affairs (MEA) said in the readout that Modi accepted Putin's invitation to travel to Russia for the annual summit talks between the two countries.
In their over 45-minute talks, Modi and Putin also agree to step up cooperation in defence, critical minerals, civil nuclear energy, fertiliser supplies and people-to-people exchanges.
The two leaders "shared perspectives on key regional and global issues of mutual interest, including the conflicts in West Asia and the Black Sea region which have impacted maritime trade and the safety and security of Indian seafarers," the MEA said in the readout.
"The prime minister once again reiterated that dialogue and diplomacy was the way forward in resolving conflicts and India stood ready to assist in peace efforts," it said.
The two leaders previously met on the sidelines of the SCO summit in Bishkek last week where the prime minister called for an immediate end to the Ukraine conflict and urged the Russian leader to shift from an "endless war towards the end of war".
"The two leaders reviewed progress in bilateral cooperation in political, economic, defence, energy, space, skill mobility and people-to- people domains," the MEA said.
It said they welcomed Russia's International Industrial Exhibition "INNOPROM India", held for the first time in India (New Delhi) from September 9 to and underscored its importance in further expanding trade and industrial ties.
The two leaders also visited the INNOPROM India exhibition at the Bharat Mandapam and interacted with the participants.
The MEA said Modi and Putin exchanged views on India-Russia engagement in the multilateral sphere, in particular in BRICS under India's chairship for 2026.
"President Putin invited Prime Minister to visit Russia for the 24th India-Russia Annual Summit. The prime minister accepted the invitation. The dates of the summit will be decided as per mutual convenience through diplomatic channels," it said.
Ways to boost trade and investment ties dominated the talks, with the Indian side pitching for greater market access for Indian exporters in Russia to address the ballooning trade deficit in Moscow's favour, it is learnt.
The two sides also delved into expanding their already strong defence cooperation.
Kremlin spokesperson Dmitry Peskov said on Tuesday that both sides are exploring BrahMos missile upgrades, adding that Moscow remains committed to fulfilling its remaining S-400 system deliveries and discussing the proposed supply of Su-57 fighter jets.
In the energy sector, the two sides reviewed the overall scenario and agreed to further ramp up cooperation in civil nuclear energy.
Expanding industrial cooperation, collaboration in the rail and tunnelling sectors, developing the steel value chain, and broadening access to the Russian market for Indian exporters also learnt to have figured in the talks.
