When Vladimir Putin landed in Delhi for the two-day summit, he didn’t just bring diplomacy; he brought strong words about India’s economic rise. On the opening day, he lauded the country’s growth story and signalled that Russia wants to deepen economic and trade ties with New Delhi.
His remarks came at the India–Russia Business Forum, held amid hopes of transforming a long-standing relationship into a modern strategic partnership focused on trade, technology and growth.
Why Putin Calls India a ‘Fast-Growing Economy’?
Vladimir Putin praised India’s rapid development under PM Modi’s leadership. He said the country’s growth rate and economic reforms stand out globally.
“The world will be watching our visit … India is an enormous country, home to more than a billion people, with a growing economy of a 7 per cent annual growth rate, leading among major global powers,” he said.
Putin called the past years “almost like a miracle,” pointing to India’s transformation since independence — a steady rise in quality of life, industrial growth, and global economic relevance.
He also praised India’s flagship manufacturing and growth-oriented drive under the Make in India programme. According to him, the initiative offers practical and promising opportunities for cooperation.
What Russia Wants – Stronger Economic & Trade Cooperation?
During the forum, Putin affirmed his intention to strengthen “multi-faceted economic ties” between Russia and India. He said Russian businesses are ready to increase purchases from India across a “wide range of goods and services.”
Both countries are now setting their sights on a bold target — pushing bilateral trade to $100 billion by 2030.
The vision extends beyond traditional sectors like energy and defence. The agenda now includes technology, pharmaceuticals, manufacturing, agriculture, logistics, and even defence-industry reforms that allow private-sector participation.
Putin stressed that the Russian delegation isn’t in India solely to discuss energy deals, but to explore a “multi-sectoral cooperation” approach.
What This Means for India-Russia trade & Investments?
The trade imbalance may get a fresh push toward balance, with Russia increasing its imports from India across diverse sectors — boosting Indian exports in manufacturing, pharmaceuticals, tech and agriculture.
Investors may find new opportunities in sectors opened up for private-sector participation — defence, space, nuclear, and high-tech manufacturing.
Given Russia’s reaffirmed commitment to energy supply and support for Indian economic sovereignty — despite global pressure — Indian businesses can expect more stable supply chains for energy, raw materials, and defence-related imports.
What to Watch: Key Areas for Potential Growth
- Manufacturing & Make in India: Russian interest in Indian manufacturing could boost export-oriented industries.
- Defence & Strategic Cooperation: Loosened norms for the private sector in the defence and nuclear sectors may attract joint ventures.
- Tech, Pharma, Agriculture & Exports: Russia’s readiness to buy a broad array of Indian goods presents new markets.
- Logistics & Connectivity: As cooperation expands, improved connectivity and trade corridors may see new investments.
This visit and the statements it produced mark a turning point. Russia is signalling that it sees India not just as a strategic ally, but as a global growth engine. For investors, exporters and policy-makers, this could open a new chapter in India–Russia economic cooperation.
