India-Russia Relations: A New Economic Era Begins

India and Russia have unveiled measures, including a five-year economic roadmap, to enhance relations. Both nations have agreed on various cooperation areas, especially amid Western pressure. Key discussions included energy, defence, trade, and calls for a peaceful resolution to the Ukraine conflict.

On Friday, India and Russia introduced a series of initiatives aimed at strengthening their economic partnership. Central to these plans is a five-year roadmap designed to address India's trade deficit concerns while deepening bilateral ties amid external pressures.

During the summit talks, Prime Minister Narendra Modi emphasized the need for a peaceful resolution to the Ukraine conflict. Despite Western pressure, the focus remained on diversifying economic cooperation beyond traditional domains like oil and defense.

After the summit, Modi highlighted the timeless nature of the India-Russia friendship, calling it a 'guiding star.' As part of the talks, agreements were signed covering sectors such as healthcare, scientific research, and skilled worker movement, with a shared goal to elevate annual bilateral trade to USD 100 billion.

(With inputs from agencies.)