Jaishankar meets Putin in Moscow as India-Russia trade push gathers pace

S Jaishankar met Vladimir Putin in Moscow to review trade, energy, fertiliser and nuclear cooperation. The talks highlighted a sharper push to deepen India-Russia economic ties before the SCO and BRICS summits.External Affairs Minister S Jaishankar on Monday called on Russian President Vladimir Putin in Moscow, with the two sides discussing economic ties and focusing on trade, energy, fertilisers and nuclear cooperation. The meeting came during Jaishankar's two-day visit to Russia, ahead of Putin's expected visit to New Delhi for the BRICS leaders' summit next month.The talks assume significance as India and Russia seek to deepen economic engagement and expand cooperation in a range of areas. Jaishankar said the two sides had earlier in the day held a meeting of the inter-governmental commission and had a "good report" on their economic cooperation."I think our economic cooperation, trade, energy, fertilisers, nuclear, other dimensions as well - I would be pleased to speak about it in detail. Overall, I think our economic cooperation has grown very significantly," Jaishankar said. Putin, according to the state-run TASS news agency, said Russia was increasing fertiliser supplies to India and was ready to continue doing so. "We are doing everything we can to fully meet the needs of Indian farmers and the agricultural sector, increasing these supplies and standing ready to continue doing so," he was quoted as saying.Putin also said trade between Russia and India had increased this year after declining slightly last year. "I am pleased to note that our trade has increased this year. It declined slightly last year, but it is growing this year," TASS quoted him as saying. He said Jaishankar's visit underscored the level of relations Russia and India had built over decades and added that cooperation was underway in virtually all areas, including at the level of the two governments, parliaments and businesses. Jaishankar conveyed Prime Minister Narendra Modi's greetings and a personal communication to Putin. "Prime Minister Modi looks forward to meeting you at the SCO summit, then welcoming you in India for the BRICS Summit, and in due course, as per your mutual convenience, having the annual summit," he said, adding, "So, we have, excellency, I think a very strong picture of cooperation." The 2026 SCO summit is being held from August 31 to September 1 in Kyrgyzstan, while the BRICS Summit will be held in New Delhi on September 12-13.Earlier in the day, Jaishankar held talks with Russian First Deputy Prime Minister Denis Manturov on ways to further expand bilateral trade and economic cooperation. At an India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation event, co-chaired with Manturov, he said bilateral trade in goods had increased four-fold over the last five years, from around USD 13 billion in 2021-22 to nearly USD 60 billion in 2025-26. He said the rapid expansion in trade had also been accompanied by a significant widening of the trade imbalance, which had increased from USD 6.6 billion to over USD 50 billion. "Addressing this imbalance is today one of our foremost priorities," Jaishankar said. He added that progress on market access, removal of tariff and non-tariff barriers, strengthening payment mechanisms and stronger business-to-business engagement would be critical to addressing the imbalance and achieving the shared objective of USD 100 billion in bilateral trade by 2030. "The India-Russia partnership has consistently demonstrated resilience and adaptability. Even amidst a complex international landscape, our engagement has continued to deepen, reflecting the mutual interest and confidence that define our bilateral partnership," he said.During the visit, Jaishankar is also scheduled to meet Russian Foreign Minister Sergey Lavrov to exchange views on regional and global issues, the External Affairs Ministry said on Saturday. Jaishankar and Lavrov last met in Manila on July 22 on the sidelines of ASEAN-related ministerial meetings, where they reviewed bilateral relations and exchanged views on the Ukraine conflict and the situation in West Asia. In that meeting, Jaishankar had also reiterated India's "strong concern" regarding the safety of Indian seafarers in the region.The Moscow visit brought together discussions on India-Russia trade, fertiliser supplies, energy and nuclear cooperation, while also setting the stage for upcoming meetings at the SCO and BRICS summits and further talks on regional and global issues.With PTI Inputs- EndsPublished By: India Today Web Desk Published On: Aug 24, 2026 19:40 IST