Tuesday, 02 January 2024 12:17 GMT

Russian-Indian Ties Gain Momentum as Duma Speaker Meets Modi


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(MENAFN) Russian State Duma Speaker Vyacheslav Volodin holds talks with Indian Prime Minister Narendra Modi in New Delhi on Monday during the BRICS Parliamentary Forum, which continues until Tuesday.

Volodin's trip marks his first overseas working visit since the newly formed State Duma began its term in late September. He heads the Russian delegation attending the parliamentary gathering in the Indian capital.

During his meeting with Modi, Volodin highlighted the relationship between Moscow and New Delhi, emphasizing the principles underpinning their cooperation.

“It is precisely this model of cooperation, based on respect and the absence of double standards, that Russia and India have developed under the leadership of the two countries’ leaders,” he said in a statement.

India hosts the forum while holding the BRICS chairmanship this year. Moscow and New Delhi characterize their bilateral relationship as a “special and privileged strategic partnership.”

Both countries have also outlined plans to expand bilateral trade to $100 billion by 2030, up from approximately $70 billion in the 2024-25 financial year.

Energy cooperation remains a major component of their economic ties, with Russian crude accounting for a record 51% of India's oil imports in July.

Russian President Vladimir Putin and Modi previously met in New Delhi in September ahead of the BRICS summit, discussing cooperation across trade, energy and defense.

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