India, Russia may cut duties, ease barriers

Bridging the vast trade imbalance between the two countries will sit at the heart of Russian President Vladimir Putin’s two-day state visit to New Delhi from Thursday, with both sides set to explore lowering duties and easing non-tariff barriers.

- ARCHIS MOHAN

Agreements are also expected across sectors ranging from the mobility of Indian skilled and semiskilled workers to Russia, to cooperation in health care.

Officials at the Ministry of External Affairs (MEA) on Tuesday described the India-Russia mobility agreement, finalised and due to be signed during Putin's visit, as the “single most important development” since the previous India-Russia Annual Summit in 2024, when Prime Minister Narendra Modi travelled to Russia.

They pointed to Russia’s need for manpower. From just 10,000 a couple of years ago, as many as 100,000 Indians now work in Russia, while nearly 25,000 Indians are studying there, officials said. Further pacts are expected to deepen cooperation in academic research, culture and media relations.

In a video-streamed news conference on Tuesday afternoon, Kremlin Spokesperson Dmitry Peskov said Moscow wants to build an “architecture” that insulates its trade with India from pressure exerted by third countries. He said New Delhi’s procurement of Russian crude oil may dip “for a brief period” because of western sanctions, but insisted Russia is taking steps to secure supplies.