According to the "Novosti" agency, Indian Prime Minister Narendra Modi has arrived on an official two-day visit to Moscow to participate in the 22nd India-Russia Summit. It is expected that the agenda will not only focus on strengthening bilateral relations but also address international security issues in light of the outcomes of the recent Shanghai Cooperation Organization summit held in Kazakhstan in early July.
The Indian Ministry of External Affairs stated that discussions in Moscow would cover the full spectrum of bilateral relations, including defense, trade, communications, investments, and cooperation in energy, science, and technology. Vinay Kwatra, the first deputy of the Indian Foreign Ministry, clarified that the summit would focus on how to address the imbalance in the trade relationship between India and Russia.
Kwatra noted in statements shared by the Russian government agency "Novosti" ahead of Modi's visit that bilateral trade has significantly increased in 2023 and 2024, approaching $65 billion, primarily due to close cooperation in the energy sector. This comes as India and China have become the main destinations for Russian oil exports following the closure of the European market to Russia. However, Indian exports to Russia amount to only $4 billion, while imports are nearing $60 billion, which Kwatra remarked, saying: "Trade remains unbalanced, and this is a priority for our discussions with the Russian side."
It is worth mentioning that the last India-Russia summit was held in New Delhi at the end of 2021, resulting in the signing of approximately 30 agreements and memoranda of understanding, and a joint statement titled "India-Russia Partnership for Peace, Progress, and Prosperity" was issued by the leaders of both countries.
