Russian President Vladimir Putin and Indian Prime Minister Narendra Modi agreed on Friday to expand and diversify trade beyond oil and defence despite Western pressure on New Delhi to scale back its decades-old close ties with Moscow.
India, the world's top buyer of Russian arms and seaborne oil, has rolled out the red carpet for Putin during his two-day state visit, his first to New Delhi since Russia's invasion of Ukraine in 2022.
The trip coincides with New Delhi's talks with the U.S. on a trade deal to cut punitive tariffs imposed by President Donald Trump on its goods over India's purchases of Russian oil.
Russia has said it wants to import more Indian goods in an effort to grow trade to $100 billion by 2030. It has so far been skewed in Moscow's favour due to New Delhi's energy imports.
Describing India's enduring partnership with Russia as "a guiding star", Modi said: "Based on mutual respect and deep trust, these relations have always stood the test of time."
"...we have agreed on an economic cooperation programme for the period up to 2030. This will make our trade and investment more diversified, balanced, and sustainable," he told reporters, with Putin by his side.
Modi, who warmly embraced Putin on the airport tarmac when he arrived on Thursday, also reiterated India's support for a peaceful resolution to the war in Ukraine.
Putin said Russia would continue to ensure "uninterrupted fuel supplies" to India, signalling a defiant stance in the face of U.S. sanctions, and also flagged a project underway to build India’s largest nuclear power plant at Kudankulam.
A large business and government delegation has accompanied Putin. Among the deals signed, the two countries agreed to help Indians move to Russia for work, to set up a joint venture fertiliser plant in Russia, and boost cooperation in agriculture, healthcare and shipping.
They also agreed to reshape their defence ties to take account of New Delhi's push for self-reliance through joint research and development, as well as the production of advanced defence platforms.
In an interview with broadcaster India Today aired late on Thursday, Putin challenged U.S. pressure on India not to buy Russian fuel.
"If the U.S. has the right to buy our (nuclear) fuel, why shouldn't India have the same privilege?" he said, adding that he would discuss the matter with Trump.
Energy trade with India is "running smoothly" despite a minor dip in the first nine months of 2025, he said.
India has said Trump's tariffs are unjustified and unreasonable, noting continued U.S. trade with Moscow. The U.S. and European Union still import billions of dollars worth of Russian energy and commodities, ranging from liquefied natural gas to enriched uranium, despite economic sanctions.
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Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 19th of August, covering the latest developments.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Kazakhstan will vote on 23 August in its first parliamentary election under the new Constitution, choosing 145 members of the new Kurultai under a fundamentally changed electoral system based entirely on party lists.
Five years after Evergrande's debt crisis rattled global markets, founder Hui Ka Yan has been sentenced to life in prison, marking a dramatic new chapter in the downfall of China's former property giant.
South Korea estimates North Korea possesses between 80 and 120 nuclear warheads, its defence minister said on Thursday, citing a range significantly higher than U.S. President Donald Trump's recent assertion that Pyongyang has 57 nuclear weapons.
Russian ballistic missile strikes on Ukraine’s capital Kyiv has killed at least sixteen people and injured more than forty others, Ukrainian officials said, with fires reported across the city and Poland activating defensive air operations.
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