India and Russia Set $100 Billion Trade Goal, Pledge New Defense Partnership

Indian Prime Minister Narendra Modi and Russian President Vladimir Putin agreed on Tuesday to dramatically increase trade and reshape their long-standing defense relationship. The leaders set a new target of boosting annual bilateral trade to $100 billion by 2030. The two nations also committed to expanding their defense ties beyond a traditional buyer-seller model. They plan to increase joint military production, including the manufacturing of spare parts in India for Russian equipment used by the Indian armed forces. This shift aims to address India's need for reliable maintenance of its largely Russian-origin fleet. It also supports India's "Make in India" policy for domestic manufacturing. The talks highlighted the enduring strategic partnership between the two countries. The leaders further agreed to deepen cooperation in energy, technology, and space exploration.