Modi, Putin hold talks in Delhi ahead of BRICS summit; $100 billion trade goal by 2030
Prime Minister Narendra Modi held bilateral talks with Russian President Vladimir Putin in New Delhi on Friday, 11 September, a day before the 18th BRICS Summit opens at Bharat Mandapam. The two leaders reviewed cooperation in trade, defence, energy, civil nuclear power, fertilisers, critical minerals, railways and steel, and reaffirmed a target of $100 billion in bilateral trade by 2030, according to Business Today and Outlook India.
Putin arrived in the capital on Friday morning for a three-day visit and was received at the airport by Minister of State for External Affairs K V Singh, Business Today reported. Outlook India noted that this is Putin's first BRICS summit outside Russia since the Ukraine conflict began in February 2022.
What the two sides discussed
According to Outlook India, the leaders reviewed progress in political, economic, defence, energy, space, skill mobility and people-to-people ties, and exchanged views on regional conflicts in West Asia and the Black Sea region. Putin invited Modi to Russia for the 24th India-Russia Annual Summit, an invitation the Prime Minister accepted.
Modi presented Putin with a Russian translation of the Thirukkural, the ancient Tamil classic, during the meeting, both outlets reported.
Business Today reported that the discussions covered industrial cooperation, rail and tunnelling projects, the steel value chain, nuclear fuel-cycle collaboration, sourcing of critical minerals and joint ventures in the fertiliser sector. On defence, Kremlin spokesperson Dmitry Peskov said the two sides were exploring upgrades to the BrahMos missile, completion of S-400 air defence deliveries and possible supply of Su-57 fighter jets.
The trade push
Speaking at the India-Russia Business Forum at Bharat Mandapam on Friday, Commerce and Industry Minister Piyush Goyal said bilateral trade was close to $60 billion and that the two countries were aiming for $100 billion by 2030 and $50 billion in mutual investment, with a focus on broadening the trade basket and involving more MSMEs, according to News24. Goyal also described the accompanying BRICS Business Forum, with more than 2,000 business leaders, as the largest ever held, Outlook India reported.
Who else is coming
Chinese President Xi Jinping is expected to arrive on Saturday, 12 September, Outlook India reported. Other leaders confirmed for the summit include South African President Cyril Ramaphosa, Iranian President Masoud Pezeshkian, Egyptian President Abdel Fattah El-Sisi, Indonesian President Prabowo Subianto, Ethiopian Prime Minister Abiy Ahmed and UN Secretary-General Antonio Guterres.
The summit is being held on 12 and 13 September. To ease traffic in the capital, Union Ministers and Chief Ministers attending will travel together by bus from Parliament to Bharat Mandapam, News24 reported.
What happens next
The summit proper opens on Saturday with Modi hosting the plenary sessions, and a bilateral meeting between Modi and Xi is on the Prime Minister's schedule. A joint declaration is expected at the close of the summit on Sunday, and the dates for Modi's return visit to Russia for the annual summit are yet to be announced.