NEW DELHI, Dec 5: The Prime Minister Narendra Modi expressed the confidence on Friday that India and Russia would be able to achieve the target of $100 billion bilateral trade well ahead of the target of 2030.
Speaking at the India-Russia Business Forum, along with Russian President Vladimir Putin, Mr Modi invited Russian businesses to “come and Make In India and partner with India.” He recalled that last year, President Putin and he set a target of reaching $100 billion in bilateral trade by 2030.
“However, after further discussions with President Putin and considering the tremendous potential in our partnership, I am confident that we will achieve this target well ahead of schedule. We are making rapid progress towards this goal,” PM Modi said.
Russian President Vladimir Putin was on Friday accorded a ceremonial welcome at the Rashtrapati Bhavan forecourt in New Delhi ahead of his summit talks with Mr Modi. Prime Minister Modi on Thursday (December 4, 2025) received Mr Putin at New Delhi’s Palam airport with a hug amid a group of artistes performing traditional dances.
Denis Manturov, First Deputy Prime Minister of Russia, has said President Putin’s visit to India has been “very positive” and noted that Indian companies should find respective business partners in Russia as a means to boost bilateral trade and achieve a balanced trade relationship.
Manturov said Russia was keen on balanced trade with India. “The visit was very positive from both sides. We want to have bilateral cooperation with Indian companies to achieve balanced trade. To develop in both India and Russia is also one of the spheres of cooperation. Indian companies should find respective business partners in Russia. Next year in Russia, we are expecting to see Indian companies at exhibitions,” he said.
India and Russia on Friday called for an “uncompromising” global fight against terrorism without “hidden agendas and double standards” with Mr Modi asserting that the menace was a direct attack on the values of humanity. At their summit talks, PM Modi and President Putin condemned the terror attacks in Jammu and Kashmir’s Pahalgam and Moscow’s Crocus City Hall and strongly pitched for a “zero tolerance” policy on terrorism. The two leaders voiced their strong commitment to prevent and counter terrorism in all its forms including cross-border movement of terrorists and terror financing.
The two leaders also directed their officials to speed up negotiations for a mutually beneficial agreement on the promotion and protection of investments.
Meanwhile, the University of Delhi (DU) signed a Statement of Cooperation with Russia’s National Research University Higher School of Economics (HSE University) to jointly set up a Space Mirror Lab. According to a statement by DU, the two institutions signed the cooperation agreement in presence of Vice Chancellor Yogesh Singh. The lab will be set up at DU’s Faculty of Technology, the statement said.
Mr Modi and Mr Putin held an extensive range of talks aimed at strengthening the Special and Privileged Strategic Partnership between India and Russia. Official Spokesperson for the Ministry of External Affairs, Randhir Jaiswal, said the leaders witnessed exchange of several documents.
In a post on Commerce, Migration and Mobility, Maritime Cooperation, Health and Food Safety, Fertilizers, Academic Exchanges, Media Cooperation and enhancing People to People ties.”
(Rohit Kumar)
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