Russian President Vladimir Putin’s state visit to India on December 4-5 for the 23rd India-Russia Annual Summit marked a significant diplomatic moment, demonstrating the resilience of one of the world’s most enduring strategic partnerships. The visit, Putin’s first to India since the Ukraine conflict began in 2022, was laden with symbolism, from Prime Minister Narendra Modi’s personal reception at the airport to the ceremonial guard of honour at Rashtrapati Bhavan.
The optics were deliberate and unmistakable. At a time when Western nations have sought to isolate Russia diplomatically, India’s warm embrace sent a clear message about the independent trajectory of its foreign policy. The traditional Modi hug at the airport, extended only to very select visiting dignitaries, underscored the personal rapport between the two leaders and India’s commitment to its time-tested partnership with Moscow.
Beyond Ceremony: Practical Priorities
While the pomp and pageantry captured headlines, the substance of the visit revealed a relationship recalibrating itself for contemporary challenges. Trade and economic cooperation emerged as the central theme, reflecting both nations’ pressing economic needs. Russia, reeling under Western sanctions, and India, facing 50 per cent tariffs from Washington, see in each other vital alternative markets.
The leaders endorsed the Programme for the Development of Strategic Areas of India-Russia Economic Cooperation till 2030, setting an ambitious bilateral trade target of $100 billion by the decade’s end. This represents a significant leap from the current $68.7 billion, though much of the recent growth stems from India’s purchases of discounted Russian oil, a factor now under American scrutiny. The joint statement emphasised developing bilateral settlement systems using national currencies, a strategic move to insulate trade from dollar-dependent mechanisms. Both nations agreed to enhance interoperability of national payment systems and explore central bank digital currency platforms. This financial architecture aims to ensure “uninterrupted maintenance of bilateral trade” despite external pressures.
The Energy Equation
The elephant in the room was oil. India’s purchase of Russian crude has surged since 2022, providing crucial revenue to Moscow’s sanctions-hit economy while offering Delhi energy security at competitive prices. Putin emphasised Russia’s readiness to ensure “uninterrupted oil supplies” to India, but conspicuously, no specific agreements were announced.
This silence is telling. India faces mounting pressure from the Trump administration to curtail Russian oil imports, while its energy security imperatives pull in the opposite direction. The absence of concrete commitments suggests Delhi is keeping its options open, attempting the delicate balancing act of maintaining strategic autonomy while managing great power pressures.
Defence: The Unspoken Dimension
Equally notable was what wasn’t announced. Despite speculation about major defence acquisitions-including the advanced Su-57 fifth-generation fighter aircraft and additional S-400 air defence systems-no blockbuster defence deal materialised.
This reflects India’s careful calibration between its defence relationship with Russia, which supplies approximately 60 percent of its military equipment, and its growing strategic ties with the United States.
The joint statement emphasised reorienting military-technical cooperation toward “joint research and development, co-development and co-production” under the Make-in-India initiative. Both nations agreed to encourage joint manufacturing of spare parts and components for Russian-origin equipment, with potential exports to friendly third countries.
However, Russia’s capacity to deliver on existing orders remains questionable, with its defence industrial base stretched by the Ukraine conflict. The delayed delivery of remaining S-400 units serves as a reminder of these constraints.
Expanding Horizons
Beyond traditional pillars, the visit yielded progress in emerging areas. Both nations are committed to regular consultations on Arctic-related issues and cooperation on the Northern Sea Route, with India training seafarers for polar water operations. The opening of Indian consulates in Yekaterinburg and Kazan signals intent to deepen regional connections beyond traditional centres.
In a move to boost cultural and economic exchanges, Modi announced that India will launch a free 30-day e-tourist visa and a 30-day group tourist visa for Russian citizens.
In civil nuclear cooperation, both sides welcomed progress on the Kudankulam Nuclear Power Plant, with fuel shipments arriving for Unit 3. They agreed to accelerate discussions on Russian-designed reactors and localisation of nuclear equipment manufacturing, aligned with India’s goal of 100 GW nuclear capacity by 2047.
Critical minerals emerged as a new frontier, with both nations expressing interest in cooperation on exploration, processing and recycling technologies, crucial for advanced manufacturing and emerging technologies.
Multilateral Convergence
The leaders emphasised strengthening cooperation within BRICS, SCO and G20, with Russia pledging full support for India’s upcoming BRICS Chairship in 2026. They advocated for UN Security Council reform, with Russia reiterating support for India’s permanent membership in an expanded council.
On counter-terrorism, both nations condemned terrorist attacks in their territories and called for concerted action against UN-listed terrorist groups, emphasising the need to combat terrorism “without hidden agendas and double standards.”
Notably absent from the joint statement was any direct reference to the Ukraine conflict, though the leaders emphasised their commitment to “global peace and stability in a multipolar world” and stressed that their relationship should be “ensured upon the basis of equal and indivisible security.” This carefully calibrated language reflects India’s consistent position of calling for dialogue and diplomacy while refusing to condemn Russia explicitly.
The Geopolitical Tightrope
Putin’s visit illuminated India’s evolving foreign policy doctrine. Delhi is no longer boxed in by old Cold War binaries and is instead practising a confident, multi-aligned approach rooted in strategic autonomy. The message was clear: India engages Moscow on terms shaped by its own interests, not by external criticism.
As Prime Minister Modi noted, addressing tariff and non-tariff barriers, ensuring smooth payment mechanisms, and regular business interaction are key to achieving the revised trade target. Whether India can simultaneously maintain its Russian partnership while securing trade deals with Washington remains the defining question.
The “informal dinner” between Modi and Putin, described by Russian officials as addressing “the most urgent, most sensitive and most important issues,” likely involved frank discussions on these very dilemmas.
The 23rd India-Russia Annual Summit reaffirmed a partnership anchored in mutual respect and converging interests, even as both nations navigate an increasingly complex global landscape. The relationship’s resilience lies not in ignoring differences but in pragmatically managing them while advancing shared objectives.
