On the sidelines of the SCO Summit in Tianjin, Prime Minister Modi and Vladimir Putin held a crucial bilateral meeting. Discussions focused on navigating trade and payment issues for Russian oil and defence equipment amidst international sanctions, with the rupee-ruble exchange mechanism being a key point. India has consistently communicated that "this is not an era of war." The talks addressed the significant trade imbalance, with bilateral trade reaching $65.7 billion in the financial year ’24 and a target of $100 billion by 2030. India, the largest recipient of Russian arms, continues its deep defence and civil nuclear cooperation. The meeting also explored Russia becoming a potential market for Indian goods, alongside cooperation in cybersecurity and AI.
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