Russian President Vladimir Putin has confirmed that he expects to meet Prime Minister Narendra Modi twice within a span of two weeks, first at the Shanghai Cooperation Organization summit in Kyrgyzstan and then at the BRICS summit in New Delhi.

The SCO leaders’ summit will take place in Bishkek on 31 August and 1 September, while the BRICS summit is scheduled for 12 and 13 September in the Indian capital.

Putin told External Affairs Minister S. Jaishankar in Moscow on 24 August that he hoped to see Modi soon at the SCO summit and that their schedules would likely allow another meeting before the end of the year. Jaishankar conveyed a personal message from Modi, who expressed eagerness to meet Putin at the SCO and to welcome him to India for BRICS.

The SCO has confirmed that its Council of Heads of State and SCO Plus summit will be held in Bishkek on the stated dates. India will host the BRICS summit in New Delhi shortly afterwards.

These two multilateral gatherings are distinct from the India–Russia annual summit mechanism. EAM Jaishankar indicated that Modi wanted the next annual summit to take place at a mutually convenient time, though no date has yet been announced.

The Kremlin meeting followed the 27th session of the India–Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation, which Jaishankar co-chaired with Russian First Deputy Prime Minister Denis Manturov. The commission reviewed cooperation in trade, investment, energy, fertilizers, nuclear power, connectivity, technology, space and skilled-worker mobility.

Trade between India and Russia has expanded more than fourfold in five years, rising from about $13 billion in FY22 to nearly $60 billion in FY26. The growth has been driven largely by India’s purchases of Russian crude oil, coal, fertilizers and other commodities.

However, India’s exports to Russia have grown much more slowly, leaving a trade deficit exceeding $50 billion. Jaishankar acknowledged that addressing this imbalance was one of the foremost priorities.

An official brief from the Ministry of External Affairs put bilateral trade at a record $68.7 billion in FY25 before it declined about 12.9% to $59.863 billion in FY26. Both governments are seeking to raise trade to $100 billion by 2030.

EAM Jaishankar emphasised that this would require better market access, removal of tariff and non-tariff barriers, stronger payment mechanisms and greater contact between businesses. India and the Eurasian Economic Union are discussing a free trade agreement, while work continues on the International North–South Transport Corridor, the Chennai–Vladivostok maritime route and other logistics links to reduce trading costs.

Russia has become one of India’s most important oil suppliers since its full-scale invasion of Ukraine in February 2022 reshaped global energy trade.

India has defended its purchases as necessary for energy security and price stability, maintaining economic and diplomatic relations with Moscow while also deepening ties with the US and Europe.

Putin told Jaishankar that Russia was increasing fertilizer shipments to India and was prepared to expand them further. He identified energy, nuclear power and high technology as priorities, especially as conflict in the Middle East disrupts energy and fertilizer markets.

Defence equipment, nuclear power and space cooperation remain important pillars of the relationship, though trade has become far more prominent since India sharply increased its purchases of Russian energy.

Putin last visited India on 4 and 5 December 2025 for the 23rd India–Russia Annual Summit. The two sides issued a joint statement covering trade, energy, defence, nuclear power, connectivity, mobility, health and technology. They reaffirmed the $100 billion trade goal and backed work on the proposed India–Eurasian Economic Union trade agreement.

The next annual summit has not yet been scheduled. Jaishankar’s remarks suggest both sides want to preserve the mechanism, but Putin’s comment about meeting Modi again this year most immediately points to the BRICS gathering in September rather than confirming a separate annual summit.

Agencies