India and Russia Strengthen Economic Ties with Vision 2030 Agreement

During the 23rd India–Russia Annual Summit in New Delhi, Prime Minister Narendra Modi and President Vladimir Putin signed the Vision 2030 agreement, aiming to elevate bilateral trade to $100 billion by 2030.

The agreement encompasses sectors such as energy, defense, shipbuilding, and labor mobility. Both nations are also negotiating a Free Trade Agreement with the Eurasian Economic Union to facilitate trade using national currencies and digital payment systems.

President Putin assured uninterrupted fuel supplies to support India's growing economy, emphasizing Russia's role as a reliable energy supplier.

Despite Western pressures, including U.S. tariffs and sanctions over India's Russian oil imports, India continues to strengthen its strategic partnership with Russia. This includes joint ventures in fertilizers and defense cooperation, reflecting India's commitment to an independent foreign policy.