Russian President Vladimir Putin has reaffirmed Moscow's commitment to strengthening long-term economic ties with India, signalling a new phase of strategic partnership between the two nations. 

Speaking at the plenary session of the St Petersburg International Economic Forum (SPIEF) 2025, Putin announced that Russia’s action plan for comprehensive cooperation with India, extending through 2030, is set to be finalised soon.

He emphasised that these plans are part of a broader initiative to deepen economic collaboration with key partners, with India being a central focus.

Putin outlined Russia’s strategy to boost oil and gas exports as a cornerstone of this cooperation, highlighting the need to develop relations, dismantle trade barriers, explore new market opportunities, build robust infrastructure, and intensify investment partnerships. He stressed that such efforts are essential for achieving mutual growth and adapting to the evolving dynamics of the global economy.

This year’s SPIEF, often described as the 'Russian Davos,' centred on the theme “Shared Values: The Foundation of Growth in a Multipolar World.” During the forum, Putin addressed speculation about a new multipolar world order, clarifying that the shift is occurring organically and that Russia’s role is to facilitate a balanced global transition that serves the interests of the majority of nations.

India’s presence at SPIEF was marked by the participation of Union Minister for Railways, Information and Broadcasting, and Electronics and IT, Ashwini Vaishnaw. He delivered keynote addresses at two major sessions, spotlighting India’s advancements in artificial intelligence (AI) and its vision for ethical, inclusive, and democratised technological growth.

Vaishnaw articulated India’s national AI strategy, the INDIAai Mission, which is anchored in principles of equity, accessibility, and responsible innovation. He underscored the importance of nurturing an AI-skilled workforce and ensuring that AI’s benefits are distributed across all segments of Indian society.

Beyond technology, Vaishnaw’s engagements at the forum included meetings with Russian federal ministers, industry leaders, and investors. Discussions focused on expanding cooperation in logistics, transportation, infrastructure development, railway modernisation, and rare earth minerals. Notably, talks with Russian Railways CEO Oleg Belozerov explored joint projects in high-speed trains and railway innovations, signalling intent for deeper collaboration in critical sectors.

These high-level interactions underscore India’s commitment to fostering strategic partnerships with Russia, particularly in technology-driven and infrastructure domains. The initiatives align with India’s vision of Atmanirbhar Bharat (Self-Reliant India) and its broader goal of leading global digital transformation.

The Embassy of India in Moscow highlighted that Vaishnaw’s visit marks a significant step in reinforcing the longstanding India-Russia relationship, paving the way for mutual growth, innovation, and a stronger economic partnership for the coming decade.

Based On A PTI Report