Jaishankar Meets Putin in Moscow, Reviews Trade, Energy and Fertiliser Cooperation
External Affairs Minister S. Jaishankar met Russian President Vladimir Putin in Moscow on Monday, conveying a personal message from Prime Minister Narendra Modi and reviewing the broad-based India-Russia strategic partnership. The discussions focused on strengthening economic cooperation, particularly in trade, energy, fertilisers, nuclear energy and high-technology sectors.
The meeting followed the 27th session of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation, co-chaired by Jaishankar and Russian First Deputy Prime Minister Denis Manturov. The two sides reviewed mechanisms to expand bilateral commerce and diversify economic engagement.
Trade Expansion and Imbalance
Jaishankar highlighted the significant growth in bilateral trade, which has increased nearly four-fold over five years, from about USD 13 billion in 2021-22 to nearly USD 60 billion in 2025-26. However, he also underlined the widening trade imbalance, which has risen from around USD 6.6 billion to more than USD 50 billion.
Addressing this imbalance has emerged as a key policy priority. India has called for greater market access, removal of tariff and non-tariff barriers, stronger payment mechanisms and enhanced business-to-business engagement. These measures are aimed at supporting the shared objective of taking bilateral trade to USD 100 billion by 2030.
Energy and Fertiliser Security
Energy cooperation remains a major pillar of the bilateral relationship. Discussions also placed emphasis on ensuring stable supplies of fertilisers to support India’s agricultural sector.
President Putin said Russia was increasing fertiliser supplies to India and remained prepared to further meet the requirements of Indian farmers and agriculture. The assurance assumes significance for India’s agricultural supply chain and food-security framework.
Nuclear and High-Technology Cooperation
The two countries also reviewed cooperation in civil nuclear energy and high-technology sectors. Russia has identified energy, fertilisers, nuclear power and high technology among priority areas for continued cooperation with India.
Jaishankar emphasised that India-Russia economic engagement has demonstrated resilience despite a complex international environment. He also stressed the importance of translating government-level agreements into stronger commercial, investment and technological outcomes.
Roadmap for High-Level Engagement
Jaishankar conveyed that Prime Minister Modi looks forward to meeting President Putin at the upcoming Shanghai Cooperation Organisation (SCO) Summit and welcoming him to India for the BRICS Summit in New Delhi. Further discussions are also expected as the two countries prepare for their annual bilateral summit.
The Moscow engagement underscores India’s approach of maintaining a stable and diversified strategic partnership with Russia while strengthening economic resilience, energy security, agricultural supply chains and technology cooperation.
