Bishkek, Kyrgyzstan
Prime Minister Narendra Modi and Russian President Vladimir Putin will hold an important bilateral meeting in Bishkek on Monday. The meeting will take place on the sidelines of the Shanghai Cooperation Organisation (SCO) summit. The two leaders are expected to conduct a comprehensive review of their strategic partnership, with energy, fertilizers, defence and trade likely to be among the key issues on the agenda.
The meeting comes at a time of continued global uncertainty surrounding energy supplies and international trade arrangements. For India, maintaining a steady supply of crude oil and fertilizers from Russia remains important. During External Affairs Minister S. Jaishankar’s meeting with President Putin in Moscow on August 24, discussions also covered nuclear energy and high-technology cooperation, along with energy and fertilizer supplies.
The growing trade imbalance between India and Russia is also expected to feature in the discussions. Energy accounts for a significant share of bilateral trade. India wants Russia to provide greater access to its market for Indian pharmaceuticals, IT services, agricultural products and consumer goods.
Several defence-related issues are also likely to be discussed. These could include the remaining deliveries of the S-400 air defence system, defence equipment supplies, spare parts and maintenance. India and Russia have already been working to expand defence-production cooperation and promote the localisation of spare parts. However, there has been no official confirmation ahead of the meeting that any new defence deal will be finalised.
Payment mechanisms could also emerge as an important topic. Amid challenges associated with Western financial systems, India and Russia are exploring alternatives to facilitate smoother bilateral trade.
The Modi-Putin talks are not expected to be limited to economic and defence cooperation. Regional and global developments could also feature in their discussions. The two leaders may meet again during the BRICS Summit scheduled to be held in New Delhi in September.
