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India, Russia Set 2030 Trade Push as Jaishankar Defends Strategic Autonomy

New Delhi signals it will pursue multiple partnerships despite U.S. pressure.

Overview

  • Prime Minister Narendra Modi and President Vladimir Putin finalized a Programme 2030 to diversify ties and target $100 billion in annual trade, with work progressing on an IndiaEAEU free‑trade track.
  • Putin promised “uninterrupted” fuel supplies to India as refiners scale back some Russian crude purchases in response to new U.S. sanctions on Rosneft and Lukoil.
  • Defense deliverables were limited to encouraging joint manufacturing of spares and components in India, with no major new arms contracts announced.
  • The talks produced a mobility arrangement for Indian workers, plans for a fertiliser joint venture, and steps to expand cooperation in agriculture, healthcare and shipping.
  • External Affairs Minister S. Jaishankar said India has a “freedom of choice” in its relationships and indicated trade negotiations with the United States remain on track despite higher U.S. tariffs.