Page 13 - India Russia

Russia's Rosneft invested $20 bn in India, says govt quoting Putin

Rosneft gained access to India's fuel retail market when it completed a $12.9 billion deal to acquire Indian private refiner Essar Oil in 2017

Rising costs squeeze intermediaries out of Russian oil trade with India

India has become the biggest buyer of Russia's seaborne crude after Moscow's invasion of Ukraine in 2022

Putin praises India's support for SMEs through 'Make In India' initiative

Addressing the VTB Investment Forum in Moscow on Wednesday, Putin drew similarities between Russia's import substitution program to India's "Make in India" initiative

India looks West for cutting-edge weapons to reduce reliance on Russia

India, the world's biggest importer of weapons, has been buying less and less from Russia. Only 36 per cent of India's arms imports came from Russia last year, down from 76 per cent in 2009

Indo-Russia trade at $66 bn in 2024, can meet $100 bn target: Russia envoy

A senior Russian diplomat on Wednesday said bilateral trade between the two countries has reached a record USD 66 billion in 2024, marking a fivefold increase over the past five years, with a 9 per cent rise in the first eight months of this year. The envoy said Russia and India are on track to achieve the ambitious USD 100 billion trade target by 2030, bolstered by expanding collaborations and diversified trade opportunities. "The recent dialogues between leaders of both countries on the possibilities of diversifying the trade basket and increasing the volume of investments in multiple sectors make the target of USD 100 billion by 2030 an achievable one," said Maxim V. Kozlov, Russian Consul General in Kolkata, at an interactive session with members of the Bharat Chamber of Commerce (BCC). "India and Russia are more than strategic partners; we are all-weather friends. Our bond is built on mutual trust and shared interests, making the growth of our economic ties both natural and ...

Jaishankar slams Western criticism of India's purchase of Russian oil

Criticising Europe's selective approach, Jaishankar asked why Europe has itself not cut its businesses with Russia

Russia now largest crude oil supplier to India, accounts for over 35%: Puri

Speaking at the FIPI Oil and Gas Awards Ceremony, the minister highlighted the dramatic shift in India's oil sourcing over the past two years

India's Russian oil imports up 3.3% in Oct from Sep, shows trade data

India, the world's third biggest oil importer and consumer, has been gorging on Russian oil

Chennai-Vladivostok maritime corridor becomes operational, says Sonowal

The Chennai-Vladivostok maritime corridor, which is likely to boost maritime ties between India and Russia, is operational now, and container ships carrying crude oil, metal and textile have started coming to Indian ports, Union Minister Sarbananda Sonowal said on Monday. The Chennai-Vladivostok sea route will cover a distance of about 5,600 nautical miles. "The Eastern Maritime Corridor between Vladivostok and Chennai is operational now. Container ships carrying crude oil, metal and textile have started coming to Indian ports," Sonowal told reporters here. The Eastern Maritime Corridor is estimated to reduce the time required to transport cargo between the Indian and Russian Ports of the Far East Region by up to 16 days. The time taken will come down to 24 days compared to more than 40 that it currently takes to transport goods from India to Far East Russia via Europe. The current trade route between Mumbai and St Petersburg in Russia covers a distance of 8,675 nautical miles, an

Jaishankar highlights trust, growth in India-Russia economic ties

Elaborating on the economic cooperation between New Delhi and Moscow, Jaishankar said the two economies are not just complimentary but benefits from the trust and confidence built over many years

India, Russia discuss training Indians for employment in Russian companies

Speaking at the 25th India-Russia Intergovernmental Commission session, First Deputy PM Denis Manturov also shared plans for areas where the two nations would explore future collaboration

SPIEF plays key role in increased Russia-India trade: Director Valkov

Forum director emphasises 'big potential' of rupee-rouble trade between both nations

Russia's first deputy PM Manturov calls on Modi; discusses trade, energy

Russia's First Deputy Prime Minister Denis Manturov called on Prime Minister Narendra Modi on Monday and the two leaders exchanged views on enhancing cooperation in various areas, such as trade and economic ties, energy and connectivity. PM Modi welcomed the sustained and joint efforts being made by the teams on both sides for the implementation of decisions taken during his recent visits and meetings with Russian President Vladimir Putin to further strengthen the India-Russia Special and Privileged Strategic Partnership, a statement issued by the Prime Minister's Office (PMO) said. They exchanged views on enhancing cooperation in various areas, including trade and economic ties, energy and connectivity, it said. PM Modi extended his warm greetings to President Putin and said that he looked forward to continued exchanges with him, according to the statement. In a post on X after the meeting with Manturov, Modi said, "Glad to meet Russia's First Deputy PM Denis Manturov today. Happy

Urgent measures needed to reduce trade imbalances with Russia: Jaishankar

External Affairs Minister S Jaishankar on Monday called for "urgent" measures to address the issue of widening trade deficit between India and Russia. While India's exports to Russia stood at only USD 2.24 billion in April-August this fiscal, imports soared to USD 27.35 billion during the period. The trade deficit is aggregated at USD 25.11 billion. The high trade deficit is mainly on account crude imports. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022. Addressing the India-Russia Business Forum here, Jaishankar also pitched for removal of non-tariff barriers and regulatory impediments to help improve the trade balance with Russia. "The balance of trade needs urgent redressal since it is so one-sided. It is imperative that non-tariff barriers and regula

India targets $100 billion trade with Russia by 2030: EAM Jaishankar

Speaking at the India-Russia Business Forum in Mumbai, External Affairs Minister S Jaishankar emphasized key areas for collaboration to strengthen bilateral relations

Amid delays, India to receive its 1st guided-missile warship from Russia

The multi-role frigate, weighing nearly 4,000 tonnes, will soon be handed over to an Indian crew of over 200 officers and sailors stationed at the Yantar Shipyard in Kaliningrad

Russia's First Dy PM to visit India for discussing economic cooperation

Manturov will participate in the plenary session of the Russian-Indian Business Forum in Mumbai on November 11, where the focus will be on expanding economic and business cooperation

Russian oil finds way to Europe; India now biggest exporter of fuel to EU

India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine. However, a lack of a policy on refined oil produced from Russian crude meant that countries not imposing sanctions could import large volumes of Russian crude, refine them into oil products and legally export them to the price-cap coalition countries. India has become the second biggest buyer of Russian crude oil since the invasion, with purchases rising from less than one per cent of the total oil imported in the pre-Ukraine war period to almost 40 per cent of the country's total oil purchases. The rise was primarily because Russian crude oil was ...

India deserves to be in list of global superpowers: Vladimir Putin

India deserves to be included in the list of global superpowers as its economy is currently growing faster than in any other country, Russian President Vladimir Putin has said. Addressing the plenary session of the Valdai Discussion Club in Sochi on Thursday, Putin also said Russia is developing relations with India in all directions and there is a great degree of trust in bilateral ties. "India should undoubtedly added to the list of superpowers, with its billion-and-a-half population, the fastest growth among all economies in the world, ancient culture and very good prospects for further growth," he said. Calling India a great country, Putin said: "We are developing relations with India in all directions. India is a great country, now the largest in terms of population: 1.5 billion people, plus 10 million every year. " He said India is leading the world in economic growth. "Our vision of where and at what pace our relations will develop is based on today's realities. The volume

Sino-India pact on border issue positive development: Russian envoy

Russian envoy to India Denis Alipov Monday termed the Sino-India pact on the border issue a positive development in bilateral ties and welcomed the meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping on the sidelines of the BRICS summit in Kazan. Asserting that the recently concluded BRICS summit in the Russian city of Kazan was a "total success", he said the grouping is "not an exclusive but an inclusive platform". "BRICS is not anti-West but non-West," Alipov said during an interaction with reporters here. To a question on the Sino-India pact on border issues, he said, "It is a positive development in India-China bilateral ties." On October 23, Prime Minister Narendra Modi and Chinese President Xi Jinping endorsed the agreement on patrolling and disengagement along the Line of Actual Control (LAC) in eastern Ladakh during their bilateral meeting on the sidelines of the BRICS Summit. Asked about the meeting between Modi and Xi, the Russian envoy to India