ISTANBUL / NEW DELHI

Russian President Vladimir Putin on Thursday began his first visit to India since 2021, with Prime Minister Narendra Modi hailing the "time-tested" ties between the two nations.

The visit comes as Putin and Modi are set to co-chair the 23rd annual India-Russia summit in New Delhi on Friday.

Defense, energy, nuclear cooperation, payment mechanisms, the BRICS bloc they founded, and the Shanghai Cooperation Organization are among issues they are likely to discuss.

"Delighted to welcome my friend, President Putin to India," Modi said on US social media company X. "Looking forward to our interactions later this evening and tomorrow. India-Russia friendship is a time tested one that has greatly benefitted our people."

After Modi welcomed his guest, he and Putin took official cars from the airport to the Indian prime minister's official residence for a private dinner late Thursday.

Putin’s visit, also the first since the Ukraine war began in February 2022, comes as New Delhi faces mounting pressure from the US to halt purchases of Russian oil.

Washington has imposed a 50% tariff on Indian imports, partly for purchasing Russian oil amid the continuing war.

Putin and Modi will also address a business forum as India and Russia aim to boost the current bilateral trade volume of $68.7 billion – nearly six times higher than pre-pandemic levels – to $100 billion.

Putin is accompanied by a large group of businesspeople.

“The visit will go a long way in strengthening economic cooperation,” a source in the Indian government told Anadolu.

New Delhi expects to improve the trade deficit with Russia as “multiple avenues are being worked out to increase Indian exports to Russia,” the source said, pointing to pharmaceuticals, automobiles, and agricultural products (including marine products) among areas for India to boost its exports.

The two sides are also expected to sign multiple agreements and memorandums of understanding in the field of shipping, healthcare, fertilizers, and connectivity.

Putin will be hosted by his Indian counterpart Droupadi Murmu for a presidential dinner before his departure late Friday.