Russian president Putin assures India of uninterrupted supply of energy, fertilisers

Moscow, Russia on Monday assured India of uninterrupted supply of energy and fertilisers amid disruption caused by the West Asia crisis, as External Affairs Minister S Jaishankar met President Vladimir Putin here and held talks with his key interlocutors.

Jaishankar, here on a two-day visit, also co-chaired with First Deputy Prime Minister Denis Manturov a meeting of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC).

These meetings - which come ahead of Putin's expected visit to New Delhi for the BRICS leaders' summit on September 12-13 - assume significance as India and Russia seek to deepen their economic engagement and expand cooperation in a range of areas.


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In his opening remarks, Jaishankar flagged the widening trade imbalance, which had increased from USD 6.6 billion to over USD 50 billion.

In his meeting with Jaishankar, Putin assured India of uninterrupted supply of energy and fertilisers amid disruption caused by the West Asia crisis.

"We are doing everything we can to fully meet the needs of Indian farmers and the agricultural sector, increasing these supplies and standing ready to continue doing so," Putin was quoted as saying by the state-run TASS news agency.

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Jaishankar conveyed Prime Minister Narendra Modi's greetings and a personal communication to the Russian president.

"Prime Minister Modi looks forward to meeting you at the SCO summit, then welcoming you in India for the BRICS Summit, and in due course, as per your mutual convenience, having the annual summit," he said. "So, we have, excellency, I think a very strong picture of cooperation."

"I think our economic cooperation, trade, energy, fertilisers, nuclear, other dimensions as well - I would be pleased to speak about it in detail. Overall, I think our economic cooperation has grown very significantly," Jaishankar said, adding that the IRIGC-TEC meeting held earlier in the day had a "good report" on their economic cooperation.

Russian Foreign Minister Sergey Lavrov was among top officials present in the meeting.

In his opening remarks at the 27th IRIGC-TEC meeting, Jaishankar said trade between India and Russia has increased four-fold in five years - from around USD 13 billion in 2021-22 to nearly USD 60 billion in 2025-26.

He, however, voiced concern over significant widening of the trade imbalance, which had increased from USD 6.6 billion to over USD 50 billion.

"Addressing this imbalance is today one of our foremost priorities," he said.

The minister said progress on market access, removal of tariff and non-tariff barriers, strengthening payment mechanisms and stronger business-to-business engagement would be critical to addressing the imbalance and achieving the shared objective of USD 100 billion in bilateral trade by 2030.

Jaishankar also proposed greater focus on implementation and outcomes in the functioning of the inter-governmental commission, as he called for stronger engagement with businesses, saying governments could create enabling frameworks, but businesses were the ones that "trade, invest, innovate and create jobs".

He also called for constantly updating the view of opportunities and exploring new possibilities.

"The complicated international scenario will constantly throw up fresh ideas because we are all focused on de-risking and diversifying," said Jaishankar. "Economic demands and technology requirements will add to this mix. A fundamental complementarity still remains underexplored. But even the last few years have seen progress in realising this potential, and we must take that forward."

"The India-Russia partnership has consistently demonstrated resilience and adaptability," he said. "Even amidst a complex international landscape, our engagement has continued to deepen, reflecting the mutual interest and confidence that define our bilateral partnership."

After he met with Putin, Jaishankar said he was pleased to call on the Russian president.

"Handed over a personal message from Prime Minister @narendramodi. Briefed him (Putin) on the deliberation held under the 27th IRIGC-TEC, reviewing our cooperation across a wide range of domains. Value his guidance in that regard. Also discussed regional and global issues of importance," he said in a post on X.

Putin, in the meeting, said trade between Russia and India had increased this year after declining slightly last year.

"I am pleased to note that our trade has increased this year. It declined slightly last year, but it is growing this year," Putin said.

Putin stressed that Jaishankar's visit underscored the level of relations Russia and India had built over decades and said cooperation was underway in virtually all areas, including at the level of the two governments, parliaments and businesses, according to TASS.