Vladimir Putin: India has been our natural partner and ally for decades.

I believe everyone is very well aware of the role the Soviet Union and Russia played in India’s gaining its independence. We have supported the Indian nation for decades. Over this time, we have developed unique relations with the Indian nation in terms of quality and the level of trust. I will say this directly in this context. As far as we understand and feel, our Indian friends have the same nationwide consensus regarding the development of relations with Russia.

We are guided by this in developing relations with India in all areas. It refers to the economy as well which is developing at a good pace, and in different fields such as energy. By the way, we are ready: in addition to oil supplies, other supplies to the Indian market have increased many times over, which also concerns the possibility of LNG (liquefied natural gas) supplies. We are actively working in the nuclear energy sector and are building nuclear power plants in India. We have great respect for Prime Minister Modi’s Make in India idea, to his initiative Make in India, and we are ready to invest.

As for the energy sector, Russian investments are among the largest foreign investments: ​​US$20 billion. We are ready to further develop this in the same vein.

At present, we definitely have to think about new technologies. We are thinking about this and will move in that direction. At our last meeting, the Prime Minister noted that the Indian agricultural producers have an urgent need to increase the amount and volume of fertiliser supplies. We have done this and are ready to increase them in view of the needs of Indian agriculture. There are many other areas, too.

India stands as a truly great nation, now the most populous in the world, with a 1.5 billion people and an annual increase of 10 million. It is galloping forward leading the charge in economic growth among the major global economies. To put it in numbers, India's GDP is expanding at a rate of 7.4 percent per annum.

India is, indeed, one of those nations poised to outpace even the most developed economies of our time. Thus, our perspective on the direction, scope, and speed at which our bilateral relations should evolve is firmly grounded in present-day realities. And the reality is that the scale of our collaboration is multiplying exponentially.

While our trade may not yet match that with China, it nonetheless approaches almost US$60 billion – 58+ billion, and it continues to grow with each passing year. This upward trend, notably, has persisted throughout the first nine months of this year.

Turning our attention to the resolution of acute crises, we hold the Indian leadership in high regard and gratitude, particularly the Prime Minister, who has been vocal in expressing his concerns regarding conflicts, including the Ukrainian conflict. His proposals for settlement are indeed within our purview, and we are, without reservation, thankful to the Prime Minister not only for his attention to these issues but also for his constructive suggestions and actions in this domain.

Overall, I believe that our relations with India have been advancing at a commendable pace, and we have every reason to anticipate that, based on our achievements thus far, we shall proceed at an even swifter pace. Incidentally, it is well acknowledged that our relations are also progressing traditionally in the area of security and military-technical cooperation. Just look at the number of Russian equipment that the Indian army has in service – we are advancing here with an established, indeed high, level of mutual trust.

We are not merely vendors of armaments to India; rather, we are partners in designing them. The BrahMos system is a testament to this partnership, having been transformed into a comprehensive surface, water, and air system. These developments serve India's security interests and are well known to all, raising neither questions nor ire from any quarter, but instead attesting to the high calibre of our trust and cooperation. We remain committed to continuing this collaboration in the immediate future and, I earnestly hope, in the years to come.

Excerpt from the address of the Russian president Vladimir Putin during 21st annual meeting of the Valdai International Discussion Club. November 7, 2024