Jaishankar, Lavrov Focus on Energy Ties and Trade Balance in Moscow Talks

India and Russia on Thursday explored measures to expand bilateral trade in a more balanced way, secure long-term supplies of key commodities such as fertilisers, and sustain cooperation in energy and defence. External affairs minister S. Jaishankar, describing the partnership as one of the “steadiest of the world’s major relationships,” said shared geopolitical outlook and popular sentiment continue to anchor ties.

Jaishankar held talks with Russian foreign minister Sergey Lavrov in Moscow, a day after co-chairing a bilateral trade and economic commission. He also met President Vladimir Putin, who is expected to visit India later this year for a summit with Prime Minister Narendra Modi.

Tackling Trade Imbalance

Jaishankar pressed Moscow on India’s concerns over a ballooning trade deficit, regulatory hurdles, and non-tariff barriers. Two-way trade reached a record $68.7 billion in 2024–25, but India’s exports were just $4.88 billion, leaving a deficit of nearly $59 billion—nine times higher than four years ago.

He said trade growth must be “balanced and sustainable”, with greater access for Indian pharmaceuticals, agriculture, and textiles to the Russian market. The ministers also discussed energy cooperation—Russia currently supplies almost 40% of India’s energy needs, with crude and petroleum imports worth $53 billion in 2024.

Fertilisers, Connectivity, and Mobility

The talks covered long-term fertiliser supply, expansion of Indian consulates in Kazan and Yekaterinburg, and new connectivity initiatives such as the International North-South Transport Corridor, the Chennai–Vladivostok maritime route, and the Northern Sea Route. Jaishankar also raised the need for greater mobility for Indian skilled workers in IT, construction, and engineering to meet Russian labour shortages.

Defence and Strategic Convergence

Describing defence ties as “robust,” Jaishankar highlighted Russian support for India’s ‘Make in India’ goals through joint production and technology transfer. Lavrov said the partnership had “special importance” in shaping a new global order.

Indians in Russian Army

Jaishankar raised concerns over Indians recruited into the Russian military, noting that while many have been released, some cases remain unresolved. According to the external affairs ministry, 126 Indians were recruited, 12 killed in Ukraine, 96 discharged, and 16 remain missing.

Regional and Global Issues

The discussions also touched on the conflicts in Ukraine, West Asia, and Afghanistan, as well as India’s fight against cross-border terrorism. Jaishankar reiterated India’s zero-tolerance approach to terror and emphasised dialogue and diplomacy as the path to resolving global conflicts.

“We are lining up outcomes for the [Modi-Putin] summit,” he said. “We are taking practical steps so that the substance of our relationship grows.”