Overview
- Speaking at the Valdai forum, Vladimir Putin directed officials to prepare proposals that include boosting imports of Indian agricultural goods and pharmaceuticals to ease the imbalance.
- Putin argued that U.S. tariffs on India now totaling about 50%, including a 25% penalty linked to Russian oil, would be offset by continued crude supplies from Russia.
- He praised Prime Minister Narendra Modi as a “balanced, wise” leader and defended India’s decision to keep buying Russian energy as an economic choice reflecting national sovereignty.
- Putin highlighted financing, logistics and payment hurdles as priority issues to resolve to unlock greater two‑way trade.
- Kremlin officials signaled a presidential visit to India in early December, as Indian and Russian figures show trade swelling to roughly $63–68 billion with a deficit near $58.9 billion.