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Following Negotiations and bilateral talks between External Affairs Minister S Jaishankar and Russian Foreign Minister Sergey Lavrov, the Indian minister met Russian President Vladimir Putin in Moscow on Wednesday, 27 December.
Putin invited Prime Minister Narendra Modi to visit Russia next year and said, "We will be glad to see our friend, Mr Prime Minister Modi, in Russia."
Putin also said that Russia is aware on PM Modi's position on global "turbulences" and said, "I have repeatedly informed him about the situation around this conflict. I know about his striving to resolve this problem through peaceful means."
According to reports, Lavrov said India and Russia that ties are historic and have been moving consistently forward.
“Our ties are also strengthened by our stands at UN, SCO and BRICS. Both Russia and India want an open and fair international system,” he added.
According to a statement from the Russian Embassy in India before talks, "The main emphasis will be made on promoting the further building of sustainable transport, logistics and banking and financial chains, expanding the use of national currencies in mutual settlements."
Talks further focusses on issues of cooperation in high-tech areas, including space and nuclear ones, as well as the implementation of joint projects for the development of hydrocarbons on the Arctic shelf and in the Russian Far East."
EAM Jaishankar and Russian Foreign Minister Lavrov also held a press conference following bilateral talks in Moscow, during which the Indian minister said:
" ... India-Russia relations remain very steady, remain very strong. They are based on our strategic convergence, on our geopolitical interests, and because they are mutually beneficial. We spent a lot of time discussing political cooperation with regard to various international issues, including international organisation BRICS..."
"We have crossed $50 billion turnover last year. We expect to exceed that this year. What is important is that this trade is more balanced, it is sustainable, and it provides for fair market access. I think that was very much part of my discussions yesterday and a little bit today with Minister Sergey Lavrov as well."
"We have agreed that the negotiations between India and the Eurasian economic union for the free trade agreement will be resumed in the second half of January this year"
External Affairs Minister S Jaishankar is on a five-day-visit to Russia and met representatives of the country's strategic community, Minister of Industry and Trade of Russia Denis Manturov and also engaged with members of the Indian community.
Importantly, This is the second year in a row that Prime Minister Narendra Modi has skipped the annual summit with Russian President Vladimir Putin.
The last summit was held back on 6 December 2021 during Putin's visit to India, with the meeting not taking place in 2022. Moreover, Putin also skipped the G20 Leaders' Summit in New Delhi in September 2023 and also the SCO Summit held virtually.
Alongside the invite, which the EAM would have roughly received at the age of 7, was a current picture of him at Red Square titled “How it started”, and “How it is going”.
The continuing problems over the rupee-rouble payment mechanism amid a surge in the import of Russian oil and bilateral trade and delays in supplies of defence equipment.
During April 2020 to March 2021, India and Russia witnessed bilateral trade totaling $8.1 billion, notes the Indian Embassy in Russia. Indian exports reached $2.6 billion, while imports from Russia stood at $5.48 billion.
Russian data, however, reports a trade volume of $9.31 billion, with Indian exports at $3.48 billion and imports at $5.83 billion, as per India's embassy in Russia, news agency ANI reported.
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