The BRICS TimesRussian Deputy Prime Minister Dmitry Patrushev met PM Narendra Modi in New Delhi. Both leaders discussed India-Russia trade, agricultural cooperation and the BRICS Grain Exchange. They also talked about a Free Trade Agreement with the Eurasian Economic Union. PM Modi expressed happiness over expanding collaboration in farming, fertilizers and food processing.
Russian Deputy Prime Minister Dmitry Patrushev met Prime Minister Narendra Modi in New Delhi and praised the strong ties between India and Russia. He described India as Russia’s close and reliable partner, highlighting that trade between the two nations reached record levels in 2024.
During the talks, both leaders discussed the proposed Free Trade Agreement between India and the Eurasian Economic Union. If this agreement is finalized, it will make trade easier and more beneficial for businesses. They also explored the idea of setting up a new BRICS Grain Exchange to enhance agricultural trade across member nations.
Discussions at World Food India 2025
The meeting took place on the sidelines of ‘World Food India 2025’. Patrushev stressed that Russia will continue to work jointly with India in every possible sector and will aim to further strengthen their partnership. Prime Minister Modi expressed his delight, saying, “I was glad to meet Russian Deputy PM Dmitry Patrushev. We discussed how to increase cooperation in agriculture, fertilizers, and food processing.”
India Maintains Balance in Trade
The meeting came at a time when the Russia-Ukraine conflict has led to multiple sanctions by Western nations on Russia. The United States also imposed a 25% additional tariff on India over Russian oil purchases. Despite such challenges, India has managed to maintain balance in its strategic and economic relations with Russia.
In 2024, bilateral trade between India and Russia touched $70.6 billion, which marked a 9.2% rise compared to 2023. Out of this, imports from Russia to India accounted for $67.15 billion. Before the COVID-19 pandemic, the trade volume was just $10 billion. Experts now consider this the highest level of trade achieved so far between the two countries.
