23rd India–Russia Annual Summit Held in New Delhi

Context: The 23rd Annual Summit between India and Russia was held in New Delhi and carried special significance as it coincided with the 25th anniversary of the 2000 Declaration on Strategic Partnership. The partnership, elevated in 2010 to a “Special and Privileged Strategic Partnership”, continues to remain a key pillar of India's foreign policy.

Key Outcomes of the Summit

1. Economic & Trade Cooperation

• Programme for Economic Cooperation till 2030: Both countries adopted a long-term roadmap titled “Programme for the Development of Strategic Areas of India–Russia Economic Cooperation till 2030”, aimed at diversifying engagement beyond the traditional domains of defence and energy.
• Trade Targets: A new bilateral trade goal of USD 100 billion by 2030 was announced (trade stood at USD 68.7 billion in 2024–25).
• FTA Negotiations: Leaders agreed to accelerate talks on a Free Trade Agreement (FTA) between India and the Eurasian Economic Union (EAEU) to improve the movement of goods and services.
• Payment Mechanisms: The two sides committed to expanding settlements in national currencies and working toward interoperability of payment systems and central bank digital currencies (CBDCs) to reduce dependence on Western financial systems.

2. Energy Security

• Uninterrupted Energy Supplies: Russia reaffirmed long-term supply of oil and gas to India.
• Civil Nuclear Cooperation: Continued collaboration on civil nuclear projects, including Kudankulam Nuclear Power Plant and future technologies like small modular reactors (SMRs).

3. Defence and Security Partnership

• Reiterated focus on joint research and development, co-production, and technology transfer, aligning with the Make in India initiative.
• Commitment to regular military exercises, high-level exchanges, and enhanced security cooperation.

4. Connectivity and Logistics

• Strengthened cooperation on major connectivity initiatives:

oInternational North-South Transport Corridor (INSTC)

oChennai–Vladivostok Maritime Corridor

oNorthern Sea Route

• A dedicated MoU on training specialists for ships operating in polar waters was signed, deepening Arctic collaboration.

5. Global & Multilateral Cooperation

• Russia officially joined India’s flagship conservation initiative, the International Big Cat Alliance (IBCA).
• The two countries reaffirmed coordination in multilateral platforms including the UN, SCO, BRICS, and G20.

6. People-to-People Engagement

• Agreements signed on migration and mobility, enabling easier movement for skilled Indian workers.
• Russia announced a 30-day visa-free e-tourist facility for Indian travellers, boosting cultural and tourism ties.