India-Russia Trade Surpasses USD 50 Bn: Jaishankar Highlights Progress, Key Sector Cooperation

New Delhi: During a meeting with President Vladimir Putin, External Affairs Minister S Jaishankar highlighted the substantial advancement in bilateral trade between India and Russia, exceeding USD 50 billion. Jaishankar underscored the potential for continued growth and stressed the importance of fostering a more sustainable character in the trade relationship.

"I would like to highlight the progress we have and trade, which is in excess of a turnover of USD 50 million, and we believe that this is something whose potential is now only beginning to be visible. It is important that we give it a more sustainable character, and we discussed how we should do that," said Jaishankar.

Covering pivotal areas of collaboration, the External Affairs Minister (EAM) delved into discussions on the nuclear sector, emphasizing the signing of vital agreements linked to the Kudankulam project. He disclosed the completion of a significant accord pertaining to nuclear fuel supply, signaling progress in India-Russia cooperation within the nuclear domain.

Honoured to call on President Vladimir Putin this evening. Conveyed the warm greetings of PM @narendramodi and handed over a personal message.

Apprised President Putin of my discussions with Ministers Manturov and Lavrov. Appreciated his guidance on the further developments of… pic.twitter.com/iuC944fYHq — Dr. S. Jaishankar (@DrSJaishankar) December 27, 2023

"The second aspect pertains to the nuclear side and we signed agreements yesterday that would take the Kudakulam project forward. And also, we have finalised a very significant agreement on nuclear fuel supply," he added.

During the meeting, Jaishankar conveyed Prime Minister Narendra Modi's personal greetings to President Putin. He mentioned that PM Modi had sent a letter expressing thoughts on the state of cooperation and recent progress.

"Please allow me to convey the personal greetings of Prime Minister Modi and he has also, through me, sent a letter to you, a letter expressing his thoughts about, the state of our cooperation and the progress that we have made in recent days. And I will have the honour to give you the letter," said Jaishankar.

"Certainly, he (PM Modi) looks forward to visiting Russia next year. And I'm sure that we will find a date that is mutually convenient from the political calendars of both countries," the EAM said, responding to President Putin's invitation to PM Modi.

Jaishankar took the opportunity to update President Putin on the progress made over the last two days, including discussions with Deputy Prime Minister Denis Manturov and Foreign Minister Sergey Lavrov.

A wide ranging and useful meeting with FM Sergey Lavrov of Russia.

As strategic partners, discussed the international situation and contemporary issues. Exchanged views on Indo-Pacific, the Ukraine conflict, the Gaza situation , Afghanistan and Central Asia, BRICS, SCO, G20 and… pic.twitter.com/Uk9VTbZm5y — Dr. S. Jaishankar (@DrSJaishankar) December 27, 2023

"I would also, extensively, like to take the opportunity to share with you aspects of the progress that we have made and in the last 2 days, I had a chance to discuss it with Deputy Prime Minister Denis Manturov and today with Lavrov," the EAM said.

Following his meeting with the Russian President, Jaishankar took to his social media handle on X and said that he appreciated Putin's guidance on the further developments of India-Russia ties.

"Honoured to call on President Vladimir Putin this evening. Conveyed the warm greetings of PM Narendra Modi and handed over a personal message. Apprised President Putin of my discussions with Ministers Manturov and Lavrov. Appreciated his guidance on the further developments of our ties," the EAM posted on X.
The EAM is on a Russia visit from December 25 to 29 as a part of the ongoing high-level exchanges between the two sides.