Russian Foreign Minister Sergei Lavrov announced significant progress in negotiations with India regarding joint military equipment production, following a meeting with Indian counterpart Subrahmanyam Jaishankar in Moscow on Wednesday.
During a news conference, Lavrov emphasized the strategic nature of this cooperation, highlighting its benefits for both nations’ interests and its role in ensuring Eurasian continental security.
Lavrov acknowledged India’s efforts to diversify its military hardware sources and expressed Moscow’s readiness to support New Delhi’s initiative to domestically manufacture essential military equipment.
Kremlin spokesperson Dmitry Peskov disclosed that Russian President Vladimir Putin was scheduled to meet with Jaishankar later on the same day.
In the wake of comprehensive sanctions imposed on Russia by Western nations in 2022 due to the conflict in Ukraine, India has emerged as a crucial economic ally for Moscow. Russia has redirected a significant portion of its oil exports to India and intensified its diplomatic engagement within the BRICS group, which includes both countries as founding members.
Jaishankar projected that trade between India and Russia is expected to surpass $50 billion this year. He expressed New Delhi’s interest in finalizing a bilateral investment treaty with Russia and a free trade agreement with the Eurasian Economic Union, led by Moscow.
