Prime Minister Narendra Modi landed in Russia on Monday for the annual India-Russia summit. Sources close to the Kremlin, the official residence of the Russian President, have told CNN-News18 that PM Modi’s visit is an “extraordinary visit and by an extraordinary leader of the world’s largest democracy.”
The growth of trade turnover has increased by 66 per cent last year and an additional 20 per cent in the first four months of 2024.
Sources said that Russian President Vladimir Putin and Modi discussed Russia’s concerns about the imbalance of payments because payments are made in national currencies of both the countries. Russia’s exports are around $60 billion, and imports are at $4 billion.
Sources said both the leaders also discussed new atomic projects, and security agreements. There was a long one-to-one discussion between Putin and Modi at the former’s country house on Tuesday.
PM Modi credited President Vladimir Putin for helping India to fulfill its fuel demands. “When the world faced a shortage of food, fuel and fertilisers, we did not allow our farmers to face problems and ties with Russia played an important role in it,” PM Modi asserted.
Sources in Kremlin said that all the projected agreements were reached, terming it “great success”. “The joint statement is a huge success as it has everything like atomic stations, rupees. The Joint Statement covers future plans until 2030. This is resetting of relations and a restart for their engines,” sources said.
Modi was also awarded the Order of St. Andrew which is Russia’s highest civilian honour.
During the meeting, the two leaders also discussed the Russia-Ukraine war. PM Modi made India’s stance on the Ukraine conflict and said the solution cannot be found on the battlefield. “Be it war, conflicts, terror attacks – everyone who believes in humanity is pained when there is loss of lives. But when innocent children are murdered, when we see innocent children dying, it is heart-wrenching. That pain is immense. I also held a detailed discussion with you over this,” Modi said.
While balance diplomacy by Modi has been seen as a concern, sources in Kremlin said it was “acceptable” because Russia needs India for mediation at any stage.
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