India-Russia 23rd Summit: Strengthening Strategic Partnership and Economic Ties

Strengthening Strategic Partnership

• 🤝 Both leaders emphasized the special and privileged strategic partnership between India and Russia, noting its 25-year foundation.
• 📞 They maintain a close working dialogue through regular telephone calls and personal oversight of key projects.
• 🎯 The discussions reviewed a wide range of relevant questions concerning Russian-Indian interaction and exchanged opinions on global and regional subjects.

Economic and Trade Expansion

• 📈 Bilateral trade turnover grew by 12% last year, reaching approximately $64 billion.
• 🚀 A goal has been set to increase trade to $100 billion by 2030, supported by a comprehensive economic cooperation program.
• 💰 Countries are transitioning to national currencies for mutual settlements, with 96% of commercial deals already using them.
• 🏭 Joint initiatives include a Russian-Indian pharmaceutical factory in Russia using Indian technology and Russian enterprises producing industrial goods under the "Make in India" program.
• 🤝 Efforts are underway to establish a Free Trade Zone between India and the Eurasian Economic Union.

Energy and Infrastructure Development

• ⚡ Russia is a reliable supplier of energy resources like oil, gas, and coal for India's growing economy.
• ⚛️ The Kudankulam Nuclear Power Plant project is progressing, with two of six reactor units connected and four under construction, providing cheap and clean energy.
• 🚢 New effective international transport and logistic routes are being developed, including the International North-South Transport Corridor (INSTC) and the Northern Sea Route.

Cultural and People-to-People Exchange

• 🎭 Both nations share a deep interest in each other's traditions, history, and spiritual values.
• ✈️ Measures to boost tourism include free 30-day e-tourism and group tourism visas for Russian citizens.
• 📚 Cooperation extends to vocational education, skill training, and exchanges for students, scholars, and athletes.

Global and Regional Alignment

• 🌍 India and Russia maintain independent and self-sufficient foreign policies, promoting a more just and democratic multipolar world order.
• ⚖️ They defend the principles of international law and the UN Charter, including national sovereignty and cultural identity.
• 🤝 Both countries cooperate closely in multilateral forums such as UN, G20, BRICS, and SCO, with India set to chair BRICS next year.
• 🛡️ Long-standing military-technical cooperation involves Russia helping to arm and modernize Indian armed forces, including air defense, aviation, and navy.
• 🕊️ India advocates for a peaceful and lasting solution to the situation in Ukraine.