Kremlin highlights strong economic ties with India

The Kremlin has highlighted the robust level of economic and trade relations between Russia and India, coinciding with Indian Prime Minister Narendra Modi becoming the longest-serving leader of the Asian nation. Dmitry Peskov, the spokesperson for the Russian Presidency, stated that since Modi came to power in 2014, India has emerged as a significant global power.

"It is a country where the most advanced technologies are developing, a country that has become one of the main economic powers of the world with the fastest growth and economic development rates," Peskov remarked. He emphasized that Moscow and New Delhi's cooperation extends across "all spheres," including the most "sensitive" ones.

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a country where the most advanced technologies are developing, a country that has become one of the main economic powers of the world with the fastest growth and economic development rates

Russia anticipates that Prime Minister Modi will continue to foster the development of Russian-Indian relations. This sentiment follows a period of strengthened cooperation, notably during Russian President Vladimir Putin's visit to New Delhi last December, where nine agreements were signed across various key areas.

Both nations have set an ambitious goal to increase bilateral trade to $100 billion. Significantly, the majority of their transactions are now conducted in national currencies, bypassing the U.S. dollar-dominated international financial system. India remains a major purchaser of Russian oil, with imports increasing to approximately 2-2.5 million barrels per day, despite international sanctions against Russia.

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And we hope that Prime Minister Modi will continue to contribute to the development of Russian-Indian relations.