Putin in India: What did Putin and Modi gain from the Delhi meeting?
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Steve Rosenberg, Russia editor, in Delhi and
Vikas Pandey, India editor
Reuters
Russian President Vladimir Putin will end a busy day in India at the same place where his official trip began—a banquet at the president’s residence, after receiving a morning guard of honor.
Between events, he held talks with Prime Minister Narendra Modi, took part in a business forum, and announced the launch of Russia Today, a Kremlin-funded state-controlled TV channel.
With the Ukraine war triggering diplomatic isolation since 2022, Delhi’s lavish welcome signaled a clear message to the West.
But what, exactly, did Delhi and Moscow take away from the visit? Here’s a balanced view:
Grand gestures, but few concrete outcomes
By Steve Rosenberg
First, the reception Putin received was striking.
A pro-Kremlin outlet described the scene as “a cavalcade, volleys of cannons, and a marble throne room,” praising Russia’s leader for being greeted in an Indian palace with 340 rooms. That kind of spectacle stands in contrast to Western efforts to isolate Putin over the Ukraine invasion.
When it comes to tangible agreements, there were fewer deals than rooms in the palace—but enough for Russia and India to trumpet their “special and privileged strategic partnership,” and for Putin to tout expanding cooperation.
Notable agreements included a Russia-India economic cooperation program, arrangements on critical minerals and supply chains, and a Russian-Indian pharmaceutical factory planned for Russia’s Kaluga region.
But the most-discussed and sensitive topics remained unsettled.
Oil questions dominated disclosures.
India has been a large buyer of Russian oil, bolstering Moscow’s sanctioned economy and irritating the United States, which has pressured Delhi through heavy tariffs on Indian goods. Putin affirmed that Moscow would guarantee uninterrupted oil supplies, yet no specifics were announced. The decision now rests with India.
Then there’s defence.
Before the visit, speculation ran high about a potential purchase of advanced Russian fighter jets and air defense systems. No defence deals were announced, highlighting India’s delicate balancing act between Moscow and Washington.
Beyond pomp and ceremony, the focus shifted to what was discussed behind the scenes during an informal dinner between Putin and Modi—described by Putin’s foreign policy aide, Yuri Ushakov, as a crucial part of the visit.
Ushakov told the Russian government newspaper Rossiyskaya Gazeta that confidential, face-to-face talks are where the most urgent and sensitive bilateral and international issues are debated. “Politics is made at these kinds of meetings.”
Trade took center stage
By Vikas Pandey
The visit was heavy on optics—from Modi’s famous airport hug for Putin to the emphasis on business ties—yet it did not yield major defense contracts or a binding agreement to continue discounted Russian oil imports.
During the leaders’ remarks, two things stood out: mutual respect and an absence of blockbuster announcements. Yet it became clear that trade was the driving force of this trip.
Both countries are navigating sanctions pressures: Russia faces Western restrictions, while India faces tariff pressure from the U.S. They see each other as substantial markets and acknowledge that their economic relationship has underperformed for years.
Current trade sits around $68.72 billion, up from about $8.1 billion in 2020, largely supported by India’s oil purchases. Moscow signaled a willingness to keep oil flowing, which can be read as a nudge to Modi amid U.S. pressure. The challenge for Modi is maintaining oil imports from Russia while pursuing a separate agreement with the U.S. on broader trade—an intricate diplomatic tightrope.
Beyond energy, the two nations signed several deals and memoranda spanning shipbuilding, training Indian seafarers for polar operations, new shipping routes, civil nuclear energy, visa-free travel, and critical minerals.
Modi underscored a push to deepen commercial ties and referenced progress toward a potential Free Trade Agreement with the Eurasian Economic Union, which includes Russia and several other members. If realized, such a framework could unlock greater market access for both countries.
A five-year economic plan was floated to reach a bilateral trade target of $100 billion, though that goal becomes more plausible only if discounted oil impacts are set aside.
Ultimately, the absence of a major defense deal did not diminish Moscow’s role in India’s security posture. Russia remains a key supplier for India’s defense needs, a relationship decades in the making.
India has not publicly signaled a strong commitment to procuring the Su-57 fifth-generation fighter to close gaps in its air force, and timely delivery of existing orders like the S-400 remains a priority for New Delhi. Russia, meanwhile, faces broader resource demands overseas due to the war in Ukraine, which could complicate large new defense commitments.
Regardless, this visit appears to be largely about expanding trade, with diplomacy playing a crucial supporting role.
