Russia President First India Visit: Modi-Putin Talks to Focus on Trade and Defence
External Affairs Minister S. Jaishankar will visit Moscow on Monday to attend the Shanghai Cooperation Organisation (SCO) meeting. His visit is closely linked to the upcoming visit of Russian President Vladimir Putin to India on December 5, when he will co-chair the 23rd India-Russia annual summit with Prime Minister Narendra Modi. This will be Putin’s first visit to India since December 2021, and comes in the backdrop of the Russia-Ukraine conflict.
During his visit, Jaishankar is expected to finalize the draft agenda for the Modi-Putin summit, focusing on energy, defense, and trade cooperation. Key discussions will reportedly include the supply of Su-57 fighter jets and the acquisition of five additional S-400 missile systems.
The Modi-Putin meeting will also review bilateral trade, which has grown rapidly in recent years, largely driven by oil imports. India is currently the second-largest buyer of Russian oil, importing 1.6 million barrels per day in the first half of 2025. Bilateral trade between the two countries reached $68.7 billion in 2024-25, up from $13 billion in 2021-22.
Despite the growth, India faces a $59 billion trade deficit, with nearly 90% of imports being oil-based. Both countries are now exploring ways to diversify trade beyond oil, including pharmaceuticals, consumer goods, and electronics, with a long-term aim to reach a $100 billion trade target.
Jaishankar’s visit is seen as an important preparatory step to ensure a smooth and productive summit when Putin arrives in India in December.
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