India-Russia Economic Cooperation Strengthens with 2030 Roadmap
India and Russia have unveiled a comprehensive plan to expand their economic cooperation, announcing a comprehensive program for economic cooperation until 2030 during President Vladimir Putin's state visit to New Delhi on December 4-5, 2025.
Indian Prime Minister Narendra Modi and President Putin reiterated that their eight-decade-old partnership—built on trust, mutual respect, and strategic convergence—remains a pillar of stability amid global geopolitical uncertainty.
PM Modi stated that the new roadmap will make mutual trade "more diversified, balanced, and sustainable," and will open up avenues for co-production, co-innovation, and deeper industrial cooperation. Central to this objective are ongoing negotiations on a free trade agreement between India and the Eurasian Economic Union, the completion of which is expected to open up new export opportunities.
A key highlight was the adoption of the "Program 2030," which prioritizes balanced trade, simplified payment systems, the removal of tariff and non-tariff barriers, and greater logistics efficiency. Both sides are working to strengthen settlements in national currencies and explore interoperability between payment systems and digital currency platforms. The two countries reaffirmed the revised bilateral trade target of $100 billion by 2030 in a joint statement.
Energy security—which has long been the backbone of the partnership—was given renewed emphasis. The two countries pledged to expand cooperation in oil, gas, petrochemicals, underground coal gasification, LNG and LPG infrastructure, and nuclear energy. Russia and India agreed to fast-track the delivery schedule of equipment and fuel for the Kudankulam Nuclear Power Plant and to continue negotiations on a second nuclear site in India.
Connectivity emerged as a top priority, with new momentum being provided for the International North-South Transport Corridor (INSTC), the Chennai-Vladivostok Maritime Corridor, and the Northern Sea Route. An MoU on training Indian sailors for polar operations is expected to strengthen cooperation in the Arctic and create new employment opportunities.
Deep engagement in the Russian Far East and the Arctic was reaffirmed, supported by a separate cooperation program for 2024–2029. Sectors such as agriculture, energy, manpower, mining, diamonds, pharmaceuticals, and maritime transport will be focus areas.
Leaders also emphasized the growing importance of minerals essential for clean energy and high-tech manufacturing. Both sides pledged stronger cooperation in exploration, processing, and recycling technologies, along with plans for joint ventures in fertilizers and long-term supply arrangements.
People-focused initiatives were a major part of the discussions. India recently opened new consulates in Yekaterinburg and Kazan, while Russia will soon benefit from free 30-day e-tourist visas and a group visa scheme. New agreements on skilled manpower mobility, joint vocational training, and enhanced academic exchanges aim to build deeper societal ties.
Modi and Putin reiterated their long-standing cooperation on counter-terrorism, condemned recent attacks in India and Russia, and called for a zero-tolerance policy on extremism. They also reaffirmed their close coordination on key multilateral platforms such as the UN, G20, BRICS, and SCO, with Russia reiterating its support for India's bid for permanent membership of the UN Security Council.
From civil nuclear technology and space cooperation – including working together on rocket engines and human spaceflight – to enhancing defense co-development and co-production under Make in India, the summit demonstrated the multi-dimensional depth of the India-Russia partnership.
Putin thanked Modi for his warm hospitality and invited him to visit Russia for the next annual summit in 2026, marking another step in the continued development of the relationship he described as “special and privileged.”
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