Russian President Vladimir Putin has expressed his desire to strengthen economic cooperation with China and India, focusing on technological advancements. Speaking at the ‘Russia Calling!’ investment forum on Tuesday, Putin emphasized the importance of developing ties with these key trade partners.
Both China and India have refused to join Western sanctions against Russia over the Ukraine conflict, instead opting to boost trade with the country. Putin praised their “rational and pragmatic” approach to cooperation, highlighting the significant growth in trade volume with each nation over the past three years. Russia’s trade with China has nearly doubled from 2020 to 2024, exceeding $240 billion last year. The two countries have also abandoned Western currencies in mutual settlements, conducting most payments in rubles and yuan.
Moscow and Beijing recently published a joint roadmap for further developing bilateral ties, including mutual assistance in areas such as agriculture, trade, ecology, investment, AI, and space exploration. Russia’s trade with India is also expanding, with exports worth $5 billion and imports totaling $64 billion. The countries aim to increase bilateral trade to $100 billion by 2030, with joint production in various sectors, including military and civilian areas.
Putin is scheduled to discuss the joint production of Russia’s fifth-generation Sukhoi Su-57 fighter jets with Indian Prime Minister Narendra Modi during his upcoming visit to India. Kremlin spokesman Dmitry Peskov stated that Moscow is ready to share its technological knowledge with New Delhi, saying, “Whatever can be shared with India, will be shared.”
The development of economic ties between Russia, China, and India is significant, given the current global economic landscape. As these nations continue to strengthen their partnerships, it is likely to have a profound impact on international trade and cooperation. With Russia seeking to expand its technological cooperation with China and India, the future of bilateral relations between these countries is poised for significant growth and development.
