Speaking at a press conference in New Delhi following his meeting with Indian Prime Minister Narendra Modi, Putin said that last year trade between the two countries rose by 12%, hitting a new high, News.Az reports, citing foreign media.
Although figures vary slightly, Putin noted that trade currently stands at about $64–$65 billion, and is expected to remain close to that level this year. He said the target of $100 billion is achievable.
He explained that a joint economic cooperation program has been finalized through 2030, setting goals for government agencies to support trade, develop joint projects, and boost technological and investment partnerships.
Putin also confirmed that Russia and India are working on a free trade agreement between India and the Eurasian Economic Union.
Amid Washington’s 50% tariff on Indian imports—partly linked to New Delhi’s purchases of Russian oil during the Ukraine conflict—Putin said Russia remains ready to provide reliable fuel supplies to India.
He added that Russia and India are steadily increasing the use of their national currencies in bilateral transactions to avoid the U.S. dollar being used as a political instrument. According to Putin, 96% of payments between the two countries are now made in rubles and rupees.
