Putin: Russia to Deepen Long-Term Economic Partnership with India, Eyes Growth in Oil and Gas Exports
Russian President Vladimir Putin announced that Russia is moving forward with finalizing its long-term economic cooperation plan with India, which will extend through 2030. Speaking at the St. Petersburg International Economic Forum (SPIEF), Putin highlighted India’s importance as a strategic partner and emphasized efforts to strengthen bilateral trade and energy ties.
Focus on Energy Exports and Trade Expansion
Putin stated that Russia aims to significantly boost its oil and gas exports as part of its broader economic agenda. “We have already set a clear goal—to increase oil and gas exports. To accomplish this, we will actively develop partnerships, eliminate trade barriers, seek out new markets, invest in infrastructure, and increase capital investment,” he explained.
He stressed the need to finalize comprehensive economic action plans with key allies, particularly India, reinforcing the strategic nature of this collaboration.
“A New World Order is Emerging”
In a notable statement, Putin said, “A new world order is emerging naturally, like the rising sun. There is no way to stop it. Our role is to formalize and support this transformation so that it evolves in a balanced way, respecting the interests of most countries.”
He also dismissed suggestions that Russia and China are attempting to force a new multipolar world order, instead framing the change as a natural progression in global dynamics.
India Represented by Union Minister Ashwini Vaishnaw
Representing India at SPIEF, Union Minister Ashwini Vaishnaw participated in key sessions and bilateral meetings. He highlighted India’s rapid progress in artificial intelligence and its ethical and inclusive approach to tech development during the session titled “The Future of Artificial Intelligence.”
At the India-Russia Business Forum, Vaishnaw emphasized the importance of expanding trade, investment, and innovation between the two nations. He held strategic meetings with Russian federal ministers, leading industrialists, and technology leaders to explore opportunities in logistics, transportation, railway modernization, infrastructure, IT, and AI.
Strengthening a Time-Tested Relationship
According to a press release by the Indian Embassy in Moscow, Vaishnaw’s visit marks a crucial step in deepening the long-standing India-Russia relationship. The discussions held during SPIEF aim to pave the way for mutual growth, shared innovation, and increased cooperation across multiple sectors.