Moscow: Months before his scheduled visit to New Delhi, Russian president Vladimir Putin ordered his government to devise measures to soften the trade imbalance with India due to the heavy import of crude by the country.
Putin, while speaking at the international Valdai discussion forum of security and geopolitical experts from 140 countries, including India, in the Black Sea resort of Sochi in south Russia on Thursday evening, underlined that Russia and India have never had any problems or tensions between them and always took actions by keeping in view their sensitivities.
“We have never had any problems or interstate tensions with India. Never,” he said.
Highlighting the “special” nature of Russia-India relations since the days of the Soviet Union, when India was fighting for its Independence, the Russian president said: “In India, they remember this, they know it, and they value it. We appreciate that India has not forgotten it.”
Referring to Prime Minister Narendra Modi as his friend, Putin remarked that he feels comfortable in their trustworthy interactions. Applauding India’s nationalist government led by Modi, he called the Indian PM a “balanced, wise”, and “nationally oriented” leader.
“Everyone in India knows this well,” particularly regarding India’s decision to ignore US pressure to halt oil imports from Russia.
“The losses faced by India due to punitive US tariffs would be balanced by crude imports from Russia, plus it will gain prestige as a sovereign nation,” Putin said.
To remove the trade imbalance, Russia may buy more agricultural products and medicines from India, Putin indicated.
“More agricultural products may be purchased from India. Certain steps can be undertaken from our side for medicinal products, pharmaceuticals,” Putin stated.
While noting the vast potential for economic cooperation between Russia and India he acknowledged the need to resolve specific issues to fully unlock these opportunities.
“We need to solve the whole range of tasks to unlock our opportunities and potential advantages,” the Russian premier said, identifying financing, logistics and payment bottlenecks as key concerns.
He also recalled that the declaration of a special strategic privileged partnership between Russia and India will soon celebrate its 15th anniversary and declared: “That’s what it really is. We always hear and take into account the positions of our countries on various key issues. Our foreign ministries work very closely together.”
Putin also welcomed the idea of a joint fund to develop AI and other cutting-edge technology proposed by Dr Arvind Gupta, director general of the New Delhi-based Vivekananda International Foundation (VIF), who was attending the Sochi forum.