Russian President Vladimir Putin will arrive in India on Thursday for a two-day visit, accompanied by senior ministers and top business leaders, with a clear intent to boost imports from India and narrow the widening bilateral trade deficit.
India’s imports from Russia reached $63.84 billion in FY25, while exports stood at just $4.88 billion, leaving a trade gap of nearly $59 billion. New Delhi has pressed Moscow to prioritise corrective measures.
During the visit, Russia is expected to assure India of enhanced sourcing of pharmaceuticals, medical devices, and food products. Plans to establish a dedicated manufacturing corridor for technical textiles and automobiles, strengthen mobility arrangements for Indian professionals, and expand cooperation in digital technologies and AI are also on the agenda. Discussions on advancing local currency trade are likely.
According to officials, Moscow recognises that sustaining India’s large oil and defence purchases — including platforms like the SU-57 and S-400 — will require tangible steps to increase Russian imports of Indian goods.
The meeting between Putin and Prime Minister Narendra Modi on Friday is expected to finalise an ambitious timeline for the India–EAEU Free Trade Agreement involving Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan.
Top Russian ministers, including Maxim Oreshkin, Maxim Reshetnikov, Oksana Lut, Mikhail Murashko, Alexey Gruzdev and Sergey Kuchushev will participate in dedicated sessions with Indian policymakers and industry leaders, outlining new avenues for Indian exporters.
“We know our Indian friends are concerned about the trade deficit… We want to buy more from India,” Kremlin spokesperson Dmitry Peskov said on Tuesday.
Exporters’ body FIEO has identified strong potential for growth in pharmaceuticals, chemicals, engineering goods, and services. Meanwhile, Russia is expected to explore investments in India’s infrastructure, manufacturing, green energy, railways, mining and technology sectors.