Addressing the India–Russia Business Forum in New Delhi, President Vladimir Putin praised India’s growing technological capabilities, attributing the progress to initiatives launched under Prime Minister Narendra Modi.
Citing the Make in India programme, he noted that India is becoming increasingly technologically sovereign, with its IT and pharmaceutical sectors now holding leading positions globally.
Putin underscored the significance of India’s rapid development, describing the Indian economy as one of the fastest-growing in the world. He highlighted that India’s progress results from sound economic policymaking and sustained investment in strategic sectors.
Putin stressed that both nations seek to expand multifaceted cooperation across numerous fields.
Recalling his private discussions with PM Modi, he said that India has vast and growing opportunities which have yet to be fully utilised by both sides.
The forum, he explained, was convened precisely to unlock these potentials and encourage deeper engagement. He emphasised that under PM Modi’s leadership, India is pursuing an independent and sovereign policy while achieving notable economic results.
This autonomy, he noted, has contributed to India’s global rise across multiple sectors.
Growing Bilateral Trade
Putin highlighted the strong and longstanding trade partnership between India and Russia. He pointed out that trade volumes have grown at a sustainable pace, with the past three years witnessing a record increase of up to 80 per cent. As a result, Russia–India trade reached USD 64 billion last year.
He remarked that both nations have vast consumer markets, creating significant room for further expansion of bilateral trade and investment.
With mutually beneficial opportunities emerging across sectors, Putin reiterated that Russia remains committed to strengthening economic engagement with India.
Following discussions held during the visit, both sides adopted a document to further develop India–Russia economic cooperation.
Putin expressed confidence that this agreement would deepen strategic and commercial ties across diverse sectors. He added that Russian businesses are ready to increase purchases from India across a wide range of goods and services.
Assuring support to industry representatives, Putin affirmed that Russia will continue to back all new initiatives aimed at promoting cooperation and expanding trade.
Putin’s remarks underscored the enduring nature of the India–Russia partnership, built on shared interests, trust and decades-long cooperation. He emphasised that the two nations remain committed to developing wider economic and strategic ties as global partners.
President Putin arrived in New Delhi on Thursday for a two-day state visit, during which both sides discussed several areas of cooperation, including trade, technology, energy and strategic connectivity.
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