Russia-India Economic Cooperation Plans

Moscow, Jun 20 (PTI) Russian President Vladimir Putin on Friday said Moscow's action plan for long-term cooperation till 2030 with India should be finalised shortly.

Speaking at the St Petersburg International Economic Forum's plenary session, Putin announced that Moscow is advancing long-term economic cooperation plans with its key partners, including India.

“Let me remind you that we agreed to prepare long-term cooperation plans with key partners," Putin said while emphasising that "action plans, including those with countries like India, should be completed shortly."

“We have already set a goal to boost oil and gas exports. To achieve this, we will develop relations with partners, remove trade barriers, explore new market niches, build infrastructure, and deepen investment cooperation,” he said.

The St Petersburg International Economic Forum (SPIEF) 2025 often dubbed as 'Russian Davos' this year has the theme “Shared Values: The Foundation of Growth in a Multipolar World.”

Putin denied that China and Russia are forming a new multipolar world order.

“A new world order is emerging naturally, like the rising sun. There's no way to halt it, our role is to formalise this process and facilitate it, ensuring it develops in a more balanced way that aligns with the interests of the vast majority of nations,” Putin said.

India at the SPIEF was represented by the Union Minister for Railways, Information and Broadcasting, and Electronics and IT, Ashwini Vaishnaw.

Vaishnaw, who is also the minister for Information and Broadcasting, delivered keynote addresses at two significant sessions.

Speaking at a session 'The Future of Artificial Intelligence', he highlighted India's advancements in AI and its vision for ethical and inclusive technological growth.

While addressing the India-Russia Business Forum, he emphasised the deepening economic ties between the two countries and exploring new avenues for collaboration.

Vaishnaw had several meetings with Russian Federal Ministers, leading industrialists, technology leaders, and investors.

These discussions focused on enhancing India-Russia cooperation in critical sectors including Logistics & Transportation, Infrastructure Development, Railway Modernisation, Information Technology & Artificial Intelligence.

These engagements underscored "India's commitment to fostering strategic partnerships with Russia, particularly in technology-driven and infrastructure domains, aligning with the vision of Atmanirbhar Bharat (Self-Reliant India) and global digital transformation,” a press release from the Embassy of India in Moscow said.

His visit marks a significant step in reinforcing the longstanding India-Russia relationship, paving the way for mutual growth and innovation, it added.