The 2030 Economic Cooperation Programme signed by Modi and Putin include joint urea production, strategic transport corridors, and shipbuilding under the Make in India programme. India will open two new consulates in Russia to enhance connectivity, mobility, and business facilitation.
BY PC Bureau
New Delhi, December 5, 2025 – Prime Minister Narendra Modi announced on Friday that India and Russia have agreed on a 2030 Economic Cooperation Programme, aimed at diversifying bilateral trade, investment, and industrial collaboration. The announcement followed his talks with Russian President Vladimir Putin in New Delhi, where both leaders outlined a roadmap to accelerate growth across priority sectors and deepen long-term economic engagement.
PM Modi emphasized that India will actively engage in the India–Russia Business Forum, a platform designed to strengthen co-production, co-innovation, and joint ventures between Indian and Russian industries. Discussions also focused on the early finalization of a Free Trade Agreement (FTA) to enhance market access and facilitate smoother economic flows.
VIDEO | Delhi: At a joint press meet with Russian President Vladimir Putin, Prime Minister Narendra Modi says, “To further economic cooperation, we have signed a Vision 2030 document. Today, both of us will take part in the India–Russia Business Forum. I am confident this… pic.twitter.com/QsjHuoWDVY
— Press Trust of India (@PTI_News) December 5, 2025
Key Areas of Cooperation:
Joint urea production to bolster agriculture and industrial output.
Connectivity corridors, including the International North-South Transport Corridor (INSTC), the Northern Sea Route, and the Chennai–Vladivostok maritime link, to streamline trade and logistics.
Shipbuilding, supporting the Make in India initiative, creating jobs, and fostering skill development.
Civil nuclear energy, continuing over a decade of collaboration.
Critical minerals and resilient supply chains, enhancing economic security.
Cultural and Diplomatic Ties
Highlighting the longstanding friendship, PM Modi said, “We have love and respect for each other.” India has also opened two new consulates in Russia, aimed at improving connectivity, mobility, and services for Indian citizens and businesses.
READ: Why Modi and Putin Chose a Fortuner Over Armoured SUV
Economic and Financial Dimensions
President Putin highlighted the growing economic and energy partnership, noting that several major joint projects are being conducted using Russian rubles, strengthening financial and strategic cooperation between the two nations.
The 2030 Economic Cooperation Programme represents a long-term commitment by India and Russia to expand trade, deepen industrial collaboration, and reinforce strategic economic ties over the next decade.
