Russian President Vladimir Putin on Thursday delivered a strong endorsement of India-Russia ties, calling India a “very reliable partner” and expressing confidence in the future of the decades-old relationship. Speaking at the St. Petersburg Economic Forum, Putin also praised Prime Minister Narendra Modi’s leadership and dismissed concerns that outside pressure would harm Russia-India ties. 

Putin says pressure on India has not hurt relations

During his remarks at the forum, Putin spoke positively about the future of the relationship between Moscow and New Delhi. “We are developing our ties with India and will continue doing that, and we deem India to be a very reliable partner…,” Putin said. 

The Russian president also referred to efforts by the United States to influence some aspects of India’s cooperation with Russia. However, he said such pressure had not caused any major problems. 

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“Another thing is that the US are trying to put pressure on India in some matters. For example, when it comes to cooperation with Russia on some tracks. But everyone has understood that putting pressure on Narendra Modi, that has the largest population in the world, is detrimental for international relations and for bilateral relations. It doesn’t matter where this pressure comes from. We don’t see any negative consequences. I think that we can come to an agreement with all the participants in this process. As of today, I would say, there are no serious repercussions emanating from the state of affairs,” Putin said. 

According to him, Russia has not seen any significant fallout from India’s growing engagement with other countries, including the United States. 

Putin Says India-Russia trade could reach $100 billion

Putin on Thursday said he expects India-Russia bilateral trade to reach $100 billion in the coming years, highlighting growing cooperation in energy, investments and defence. He also said Russia is prepared to work closely with India on advanced military projects, including the Su-57 fighter jet. 

“We are ready to supply India with this aircraft to keep developing it. We don’t have any issues or limitations,” Putin said. “Same goes for air defence systems.” 

The Russian president noted that bilateral trade currently stands at around $58 billion to $60 billion and said both countries have the potential to push that figure much higher. “We hope that in the upcoming years we will reach 100 billion US dollars in mutual trade. It’s about 58 or 60 billion US dollars, but we have all the foundations to work more actively and to reach more ambitious goals,” Putin said. 

Putin said future cooperation would not be limited to trade alone. “We are not only talking about our plans in energy, including nuclear energy. Kudankulam Nuclear Power Plant (KKNPP) is now being constructed. New platforms will emerge in terms of hydrocarbons. We will be continuing to work together,” he said.

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The Kudankulam Nuclear Power Plant in Tamil Nadu has been one of the flagship projects of India-Russia cooperation for years, with Russia playing a major role in its development.

‘A special privileged strategic partnership’ 

Putin said the relationship between India and Russia is not a recent development but one that has been built over decades.

“We (India-Russia) enjoy a special privileged strategic partnership. That is how I characterise this relationship. It did not occur yesterday or one or five years ago. This is something we have been working on for decades.”

He recalled the early years of ties between the two nations after India’s independence. “Back in 1947, when the Soviet Union established diplomatic relations with the Indian Republic, we have been doing everything to support the establishment of a new state, a new independent state.”

Putin also praised India’s achievements since then and credited the country’s people for its progress. “I’m glad to say that thanks to the hard work and the talent of the Indian people, India has made great and important achievements in its development…,” he said.

Putin showers praise on India’s economic growth

The Russian leader described India as one of the world’s most important economies and said its rapid growth is the result of sustained efforts by the government. “India is one of the leading economies of the world that shows the highest rates of economic growth. This is not something that comes out of the blue. This is a result of the hard work that the government has been doing under the leadership of Prime Minister Modi…,” Putin said. 

India has remained one of the fastest-growing major economies in recent years, with strong growth across manufacturing, services and digital sectors. 

Russia welcomes India’s ties with other countries

Putin also dismissed the idea that India’s growing relationship with the United States could negatively affect its ties with Russia. “I don’t think that this is the case. We are glad that India is developing its relations with all the countries. It’s a great country with one and a half billion people, a large economy, and the largest democracy.”

He added that India has every right to pursue partnerships that serve its national interests.

“It is only natural that it develops its economy in accordance with its interests, with those countries that it deems necessary…,” Putin said.