External Affairs Minister S Jaishankar on Thursday met Russian Foreign Minister Sergey Lavrov in Moscow, where the two leaders reviewed bilateral ties and discussed preparations for the annual summit scheduled later this year.
Speaking at the meeting, Jaishankar said, “Today’s meeting gives us an occasion to discuss our political relations as well as our bilateral ties. We now prepare for the annual summit at the end of the year. Our leaders have always given us guidance to take forward our special strategic relationship.”
He noted that the two sides held extensive discussions on bilateral cooperation. “We discussed many issues in our bilateral cooperation and found solutions as well. I want to take these discussions forward so that we achieve maximum outcomes at the annual summit,” Jaishankar added.
Placing the talks in a broader international context, he said, “The global context for our meeting is provided by the evolving geopolitical situation, the shifting economic and trade landscape, and our shared goal to maximise our complementarity.”
Lavrov, welcoming Jaishankar, underlined the role of multilateral groupings in shaping the world order. “This is a multipolar system of international relations with an increasing role played by SCO, BRICS and G20. I hope for fruitful talks today,” the Russian Foreign Minister said.
The talks came against the backdrop of expanding economic cooperation between the two countries. Russia–India trade turnover surged 700 per cent over the past five years, with New Delhi now among the top three of Moscow’s trading partners, Russian Deputy Prime Minister Denis Manturov said after his meeting with Jaishankar.
In a post on X, the Russian Embassy in India wrote, “Russia-India trade turnover SURGED 700% over the past 5 years. India is now in the TOP 3 of Russian trading partners, says Russian Deputy PM Denis Manturov after meeting with EAM Jaishankar.”
Jaishankar is on a three-day visit to Russia. Apart from co-chairing the Inter-Governmental Commission on Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC), he will also address the India-Russia Business Forum meeting in Moscow.
During his official engagements, the External Affairs Minister paid tribute at the Tomb of the Unknown Soldier, laying a wreath in memory of those who sacrificed their lives in the Great Patriotic War (1941–1945).
At the 26th session of the IRIGC-TEC, Jaishankar said the mechanism plays a key role in preparing for the Annual Summit expected later this year. He noted that bilateral trade in goods between India and Russia had grown more than five-fold from USD 13 billion in 2021 to USD 68 billion in 2024–25, but cautioned that the widening trade imbalance needed urgent attention.
“We are meeting here after about 10 months since the last session in November 2024 in New Delhi, and I think this is perhaps the shortest interval between two sessions we have ever had. Over the last four years, our bilateral trade in goods has increased more than five-fold from USD 13 billion in 2021 to USD 68 billion in 2024–25, and it continues to grow,” he said.
“However, a major trade imbalance has accompanied this growth; it has risen from USD 6.6 billion to USD 58.9 billion, which is about nine times. So we need to address that urgently,” he added.
On X, Jaishankar wrote, “Co-chaired an extremely productive 26th India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) along with First DPM Denis Manturov of Russia today. We had detailed discussions on our cooperation in a wide-ranging arena, including the trade & economic sector, agriculture, energy, industries, skilling, mobility, education and culture. As we meet in the backdrop of a complex geopolitical situation, we made the following suggestions to make the IRIGC-TEC an even more efficient catalyst for deepening our economic cooperation.”
-ANI