Overview
- At a Moscow conference on Monday, External Affairs Minister S. Jaishankar and Russian Foreign Minister Sergey Lavrov restated the partnership and backed a plan to lift trade to $100 billion by 2030.
- Lavrov said Russia expects to host Prime Minister Narendra Modi in 2026, pointing to continued high-level talks after President Vladimir Putin’s December 2025 trip to New Delhi.
- Russian officials said about 96% of bilateral trade now settles in national currencies, which reduces reliance on third-country financial channels and speeds payments.
- Jaishankar called Russia India’s foremost civil-nuclear partner and cited the Kudankulam project as India pursues 100 gigawatts of nuclear power capacity by 2047.
- Both governments promoted new trade routes such as the International North–South Transport Corridor, which faces near-term risk after reports of March 18 damage to Iran’s Bandar Anzali port, a key link on the route.