Putin Directs Government to Address Trade Imbalance With India
At Valdai forum, Russian President praises Modi’s leadership, highlights special ties, and proposes boosting imports of Indian farm goods and medicines.
MOSCOW, Oct 3: Russian President Vladimir Putin has directed his government to devise steps to ease the trade imbalance with India, citing New Delhi’s heavy crude oil imports from Moscow. Speaking at the Valdai International Discussion Forum in Sochi on Thursday, Putin also expressed anticipation for his scheduled visit to India in early December.
Addressing experts from 140 countries, including India, Putin underscored the “special” nature of India-Russia relations, stressing that the two nations have “never had any problems or interstate tensions.” He recalled the historic support extended during India’s independence movement and lauded the enduring trust between the two sides.
Referring to Prime Minister Narendra Modi as his “friend,” Putin praised him as a “balanced, wise, and nationally oriented” leader. He also hailed India’s decision to resist U.S. pressure over Russian oil imports, calling it an assertion of sovereignty.
To address trade disparities, Putin proposed increasing Russian imports of Indian agricultural products and pharmaceuticals. “Certain steps can be undertaken from our side for medicinal products, pharmaceuticals,” he said, adding that cooperation potential is vast but hindered by financing, logistics, and payment challenges.
He further noted that the special strategic privileged partnership between India and Russia will soon mark its 15th anniversary, reflecting deep political coordination. “Our foreign ministries work very closely together,” he emphasized.
Additionally, Putin welcomed a proposal from Dr Arvind Gupta, Director General of New Delhi-based Vivekananda International Foundation, to establish a joint fund for developing artificial intelligence and other emerging technologies.
