MOSCOW: Russian President Vladimir Putin has expressed enthusiasm for his upcoming visit to India in early December and instructed his government to develop measures to address the trade imbalance caused by India’s substantial crude oil imports from Russia.
Speaking at the Valdai Discussion Club, an international forum of security and geopolitical experts from 140 countries, including India, held in the Black Sea resort of Sochi on Thursday evening, Putin underscored the enduring and cordial relationship between Moscow and New Delhi.
“We have never had any problems or interstate tensions with India. Never,” the Russian leader stated, highlighting the "special" nature of Russia-India ties dating back to the Soviet era, when India was fighting for its independence.
“In India, they remember this, they know it, and they value it. We appreciate that India has not forgotten it,” he said.
Putin referred to Indian Prime Minister Narendra Modi as a "friend" and described their relationship as based on trust and mutual respect. He praised India’s nationalist government under Modi, calling the Prime Minister a “balanced, wise,” and “nationally oriented” leader.
He further lauded India’s firm stance on continuing oil imports from Russia despite pressure from the United States, noting, “The losses faced by India due to punitive US tariffs would be balanced by crude imports from Russia. Plus, it will gain prestige as a sovereign nation.”
To help reduce the trade imbalance, Putin proposed increasing Russian imports of Indian agricultural products and pharmaceuticals. “Certain steps can be undertaken from our side for medicinal products, pharmaceuticals,” he noted.
While acknowledging the vast potential for economic cooperation between the two nations, Putin stressed the importance of resolving practical issues in financing, logistics, and payment systems. “We need to solve the whole range of tasks to unlock our opportunities and potential advantages,” he remarked.
He also recalled that the declaration of a “special strategic privileged partnership” between Russia and India will soon mark its 15th anniversary, adding, “That’s what it really is.”
“Our foreign ministries work very closely together,” Putin said, emphasising that Russia and India regularly coordinate their positions on key international issues.
In a notable gesture towards future cooperation, Putin welcomed a proposal by Dr Arvind Gupta, Director General of New Delhi-based Vivekananda International Foundation (VIF), to create a joint fund for the development of artificial intelligence and other cutting-edge technologies.