Modi also said that India and Russia are working towards early conclusion of a free trade agreement with Eurasian Economic Union.

The Ukraine conflict also figured prominently in the talks with Modi saying that India has advocated for peace in that country.

"We welcome all efforts being made for a peaceful and lasting resolution of this matter. India has always been ready to contribute its part and will remain so in the future," he said.

On threat of terrorism, Modi said India and Russia have long been standing shoulder-to-shoulder in the fight against the menace.

"Whether it is the terrorist attack in Pahalgam or the cowardly assault on the Crocus City Hall ? the root of all these incidents is the same," he said.

"India's unwavering belief is that terrorism is a direct assault on the values of humanity and that global unity against it is our greatest strength," he added.

Modi said India-Russia cooperation in the critical minerals sector is crucial for ensuring secure and diversified supply chains across the entire world.

In his remarks, Putin said the two sides resolved to prioritise cooperation in areas of security, economy, trade and culture.

We are looking at increasing annual bilateral trade volume to USD 100 billion, he said.

Putin said Russia is also looking at expanding cooperation in the energy sector with New Delhi, adding his country is ready for uninterrupted shipments of fuel to India.

We could also talk about cooperation in construction of small modular nuclear reactors and floating nuclear power plants, he said.

Russia, India and other like-minded nations are working towards a just and multipolar world.