India–Russia Summit strengthens ties with MoUs, FTA talks and cooperation

Prime Minister Narendra Modi and Russian President Vladimir Putin held extensive talks in New Delhi on Friday during the 23rd India–Russia Annual Summit, reaffirming the strength, depth and “Special and Privileged Strategic Partnership” that has defined bilateral ties for more than two decades. The discussions covered a wide spectrum of issues, from trade, connectivity and investment to counter-terrorism, climate cooperation and cultural diplomacy.

Prime Minister Modi welcomed President Putin at Hyderabad House earlier in the day, where the two leaders held comprehensive and detailed discussions. The Ministry of External Affairs (MEA) said the talks touched upon every aspect of the multifaceted India–Russia partnership and included a review of ongoing projects alongside new areas of cooperation. As part of the summit, both leaders witnessed the exchange of several bilateral documents and Memorandums of Understanding (MoUs) in fields such as trade and commerce, migration and mobility, maritime cooperation, health and food safety, fertilisers, academic exchanges, media cooperation and people-to-people engagement.

The summit also had a strong cultural dimension. In a symbolic gesture reflecting the civilisational bond between India and Russia, PM Modi presented President Putin with a specially curated set of gifts. These included a Russian translation of the Srimad Bhagavad Gita, a handcrafted marble chess set from Agra, and an intricately designed silver horse from Maharashtra. The Gita, presented in Russian, underscores India’s spiritual heritage and its enduring relevance, while the marble chess set from Uttar Pradesh showcases the finesse of Agra’s stone inlay artisans. The silver horse, a symbol of strength and forward movement in both cultures, was chosen to reflect the steady and resilient trajectory of India–Russia ties. The gift set also included Assam black tea, a Murshidabad silver tea set and Kashmiri saffron, highlighting India’s rich artisanal and agricultural traditions.

During the summit, both countries placed significant emphasis on counter-terrorism and regional peace. In their Joint Statement, Modi and Putin strongly condemned major terrorist attacks in both nations: the April 2025 Pahalgam attack in Jammu and Kashmir and the March 2024 Crocus City Hall attack in Moscow. They reaffirmed a shared commitment to an uncompromising fight against terrorism in all its forms, stressing the need to eliminate terrorist financing networks, dismantle safe havens, curb cross-border movement of foreign terrorist fighters and counter the spread of extremist propaganda, especially online. The leaders also called for concerted action against all UN-listed terrorist organisations, including Al-Qaeda, ISIS/Daesh and their affiliates.

The two sides also reviewed regional situations, including Afghanistan, the Middle East and West Asia. They appreciated cooperation under multilateral platforms such as the UN, SCO and BRICS, and reaffirmed their commitment to a multipolar international order. On climate change, India and Russia welcomed progress under the MoU on low-carbon development and agreed to intensify collaboration under the Paris Agreement and Article 6 mechanisms. They also endorsed the launch of the BRICS Climate Research Platform and expressed readiness to work together during India’s BRICS Chairship in 2026.

A major focus of the summit was economic cooperation, particularly the proposed Free Trade Agreement (FTA) between India and the Eurasian Economic Union (EAEU). Foreign Secretary Vikram Misri said both sides agreed to fast-track negotiations for an early conclusion, building on the Terms of Reference finalised during External Affairs Minister S. Jaishankar’s recent visit to Moscow. Misri explained that the FTA is expected to help address the persistent trade imbalance between India and Russia by providing Indian exporters greater access to Eurasian markets, simplifying standards and boosting trade facilitation.

The FTA is likely to have far-reaching implications for India’s trade deficit and regional connectivity. India’s trade deficit with Russia has widened in recent years, primarily due to large imports of crude oil, fertilisers, minerals and metals. In the short term, the FTA may expand the volume of such imports as tariff reductions make them more cost-effective. However, the medium- to long-term outlook appears positive: tariff concessions and streamlined regulatory processes are expected to open new opportunities for Indian exports in pharmaceuticals, engineering goods, chemicals, textiles, agricultural products and marine items sectors where India has strong competitive advantages. Experts believe this could gradually narrow the trade deficit as supply chains stabilise.

Connectivity will also get a significant boost. Discussions included progress on the International North–South Transport Corridor (INSTC), potential cooperation on the Northern Sea Route and wider maritime linkages. An FTA would generate higher cargo volumes, improve port-to-port logistics and reduce transit times across Eurasia. With the EAEU comprising Russia, Kazakhstan, Kyrgyzstan, Armenia and Belarus, India stands to gain deeper access to Central Asian markets, which have historically been difficult to reach due to geopolitical constraints. The FTA-enabled corridors sea, Caspian and Arctic could substantially enhance India’s economic footprint in the region.

Both sides also underscored the importance of advancing the bilateral investment treaty discussions, which are expected to energise cross-border investments. Connectivity cooperation, particularly through the INSTC and maritime corridors, is seen as a critical enabler for long-term trade and industrial partnerships.

President Putin’s visit which included floral tributes to Mahatma Gandhi at Rajghat and a ceremonial Guard of Honour at Rashtrapati Bhavan underscored the respect and warmth that characterise India–Russia relations. Both leaders expressed satisfaction with the resilience of the Special and Privileged Strategic Partnership, reaffirming their determination to strengthen it further in the face of evolving global dynamics.

As the summit concluded, India and Russia emphasised that their partnership marked by trust, mutual respect and deep historical roots will continue to shape regional stability, strategic cooperation and a multipolar world order in the years ahead.