New Delhi summit: India, Russia cement economic and energy ties
Shafaq News – New Delhi
India and Russia agreed on Friday to extend their Economic Cooperation Program through 2030, aiming to diversify their economies, strengthen bilateral stability, and deepen long-term strategic ties.
Standing alongside Russian President Vladimir Putin in New Delhi, Indian Prime Minister Narendra Modi said the partnership has remained resilient for 25 years despite global uncertainty, crediting Putin’s leadership for sustaining momentum.
Modi noted that both sides reviewed core cooperation areas, giving priority to connectivity through the International North–South Transport Corridor and potential Arctic projects that he said could generate new employment opportunities for Indian youth. He also highlighted cooperation in peaceful nuclear energy, mineral development, and natural resources.
The Indian PM pointed to India’s broader engagement with Russia, including two new consulates, an increase in Buddhist pilgrimage exchanges, and a 30-day visa scheme to facilitate cultural and religious tourism.
Putin, for his part, said strategic communication with Modi continues through the Shanghai Cooperation Organization and that working groups from both governments have exchanged assessments on regional and international developments. He confirmed receiving several proposals from Modi that will be reviewed as the two sides work to finalize agreements under the Eurasian economic framework.
The Russian president reported progress on the North–South Transport Corridor linking Russia and Belarus to the Indian Ocean, as well as on the development of Arctic maritime routes, stating that 96 percent of bilateral transactions now use national currencies.
He underscored Russia’s commitment to energy cooperation, noting that two units of a planned six-unit nuclear plant are operational, with four more under construction to expand access to clean energy across multiple sectors. Putin also announced new joint ventures in mechanical engineering, digital technology, and a cancer-drug production facility in Kaluga that will draw on Indian pharmaceutical expertise.
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