NEW DELHI: Russian President Vladimir Putin’s December 4–5 visit to New Delhi, his first in four years, will anchor a renewed push to accelerate India–Russia economic cooperation, with a series of agreements spanning trade, health care, mobility, media and economic cooperation set to be signed.

Along with the ongoing dialogue on defence, security, space and nuclear cooperation, the visit is expected to place significant emphasis on narrowing the widening trade gap. Bilateral trade between India and Russia surged to a record USD 68.7 billion in FY 2024–25, driven largely by a sharp increase in energy imports. Of this, India exported goods worth USD 4.9 billion, while imports from Russia stood at USD 63.8 billion, highlighting the scale of the imbalance.

Fertiliser imports remain a central pillar of India’s engagement with Russia. New Delhi currently sources 3 to 4 million tonnes of fertilisers annually from Moscow, and both sides are looking to further deepen this supply partnership to ensure long-term agricultural security. A key economic deliverable is the India–Eurasian Economic Union Free Trade Agreement, for which the first round of negotiations took place last year. Officials in the Ministry of External Affairs said the intent is to “have the agreement soon,” with the FTA expected to significantly boost market access on both sides.

Another major development is the finalisation of an agreement on the mobility of skilled and semi-skilled workers. The document, now undergoing internal procedures, is expected to ease labour movement.

Coinciding with Putin’s visit, a two-day India–Russia Business Forum will convene in New Delhi, focusing on expanding Indian engineering exports to Russia, scaling up Russian imports of Indian pharmaceuticals and food products, and enhancing collaboration in digital services. These discussions align with the ambitious bilateral goal of achieving USD 100 billion in trade by 2030.

Putin will be accompanied by Defence Minister Andrei Belousov and a high-level delegation representing business and industry, signalling Moscow’s intent to broaden the strategic agenda beyond traditional defence ties.

“India and Russia have had one of the most stable relationships in modern times. It has contributed to peace and stability. On both sides, there is deep understanding of how important this relationship is,” officials said.

In a significant pre-visit signal, Russia’s State Duma approved the Reciprocal Exchange of Logistic Support (RELOS) pact, a landmark military logistics agreement signed earlier this year. The pact allows both nations’ military aircraft, ships and personnel to access each other’s facilities for joint exercises, training, humanitarian missions and disaster-relief operations. Duma Speaker Vyacheslav Volodin described the move as reaffirming the “strategic and comprehensive” nature of India–Russia ties.

Health cooperation is also emerging as a strategic area. Both governments are laying the groundwork for deeper collaboration in pharmaceuticals and medical technology, including greater Indian exports of medicines and devices, the promotion of local manufacturing by Indian firms in Russia, and the joint development of modern pharma and MedTech units — a move central to building “resilient healthcare systems.”