Key highlights:

The two leaders underlined the importance of an open, inclusive, transparent and non-discriminatory multilateral trade system, with the World Trade Organisation (WTO) at its core. Russia and India have agreed to continue jointly developing systems of bilateral settlements through the use of national currencies in order to ensure the uninterrupted maintenance of bilateral trade.
The two sides discussed and commended their wide-ranging cooperation in the energy sector as a significant pillar of the Special and Privileged Strategic Partnership. They noted the current and potential cooperation between Indian and Russian companies in fields such as oil and oil products, oil refining and petrochemical technologies, oilfield services and upstream technologies and related infrastructure, LNG and LPG related infrastructure, various existing projects in their countries, underground coal gasification (UCG) technology, nuclear projects, etc.
They agreed to deepen cooperation in building stable and efficient transport corridors, with the focus on expanding logistics links for improving connectivity and enhancing infrastructure capacity to support the International North-South Transport Corridor (INSTC), the Chennai–Vladivostok (Eastern Maritime) Corridor, and the Northern Sea Route.
The leaders also confirmed their readiness to intensify trade and investment cooperation in the Far East and the Arctic zone of the Russian Federation. The Program of India-Russia Cooperation in Trade, Economic and Investment Spheres in the Russian Far East for the period from 2024-2029 provides the necessary framework for further cooperation between India and the Russian Far East region, especially in the sectors of agriculture, energy, mining, manpower, diamonds, pharmaceuticals, maritime transport, etc.
They also confirmed their intention to broaden cooperation in nuclear energy, including fuel cycle, life cycle support for operating Kudankulam Nuclear Power Plant (KKNPP) and non-power applications, as well as to elaborate a new agenda of interaction in the field of peaceful use of atomic energy and related high technologies.
The two countries also agreed to encourage joint manufacturing in India of spare parts, components, aggregates and other products for maintenance of Russian origin arms and defence equipment under the Make-in-India program through transfer of technology and setting up of joint ventures for meeting the needs of the Indian Armed Forces, as well as subsequent export to mutually friendly third countries.
Recognising the traditionally strong cooperation between India and Russia in the sphere of education, both sides appreciated efforts to ensure the well-being of students and agreed to continue their efforts in promoting educational linkages between universities and educational institutions.
They agreed to continue the development of joint approaches to addressing global economic challenges, mobilising increased access to climate finance and technologies for developing countries and economies in transition, and ensuring a reasonable reform of international institutions of economic governance, in particular multilateral development banks.
They also noted that the declaration aims to cover the main concerns surrounding the terrorist exploitation of Information and communications technology, such as payment technologies, social media platforms and fundraising methods and misuse of unmanned aerial vehicles (UAVs or drones).

India-Russia ties

Modi-Putin mark 25 years of strategic partnership, renew push for peace and deeper trade ties