Putin's Strategic Plan: Balancing Trade and Strengthening Ties with India

Russian President Vladimir Putin has announced measures to counter the trade imbalance with India, suggesting increased purchases of agricultural goods and pharmaceuticals. This announcement comes ahead of his scheduled visit to India for an annual summit with Prime Minister Narendra Modi in December.

Speaking at the Valdai discussion forum, Putin stated that India's losses from US tariffs would be offset by crude imports from Russia, enhancing India's standing as a sovereign nation. The US tariffs, introduced by President Donald Trump, penalize Indian purchases of Russian oil.

Putin also highlighted the extensive economic cooperation potential between Russia and India but acknowledged the obstacles that need addressing, such as financing and logistics. He praised the historically strong relations between the two nations, underscoring their mutual respect and collaboration in international affairs.

(With inputs from agencies.)