Skip to content
Search

Latest Stories

Hugs As Russian President Putin Clinches India Defence Deal

Russia and India's leaders announced on Friday (5) a raft of deals worth billions of dollars including for a military defence system, as New Delhi walks a tightrope between Moscow and Washington with a wary eye on China.

The flagship accord announced during a visit to India by President Vladimir Putin was for the formidable S-400 surface-to-air missile defence system, worth $5.2 billion according to an Indian source.


Other agreements -announced following a meeting between Putin and Prime Minister Narendra Modi that began with a hug -were in railways, fertilisers and space, with Russia set to train astronauts for India's first crewed space mission in 2022.

"We welcome you as a leader of a country which has second-to-none relations with us," Modi told a joint news conference. "Today we have taken decisions that will make our long term relations even stronger."

Russia "reiterated its unwavering support to India for permanent membership in an expanded UN Security Council" and for India joining the Nuclear Suppliers Group of countries controlling access to nuclear technology, a joint statement said.

The talks also covered Russia potentially building a new nuclear power plant in India, and also India paying Russia $2bn for frigates and $1bn for helicopters, although these last two were absent from the communique.

India's decision to purchase the S-400, which shoots down any incoming enemy aircraft and missiles, flies in the face of the United States imposing sanctions on countries buying Russian military hardware, as happened with China last month.

US-Russia ties are plumbing depths not seen since the Cold War, plunging further still this week as Western powers accused Moscow of orchestrating a brazen string of global cyber attacks.

However, Washington is in a tricky position with India, seeking to bolster ties with the Asian giant to counter China's growing assertiveness, something which has also rattled New Delhi.

Last year India and China had a military standoff over a Himalayan plateau claimed by both Beijing and Bhutan, a close ally of India.

China has also perturbed India by loaning large amounts of money to Indian Ocean countries where Delhi has long held sway.

"It is... important for India to keep friendly relations with the Russians so that they don't completely move into the Chinese camp," said Manoj Joshi from the New Delhi-based think-tank Observer Research Foundation.

"Also, the fact is that unlike the US, Russian regional interests largely overlap with India's regional policy," he told AFP.

Washington and New Delhi announced plans last month for joint military drills in 2019, and agreed on the exchange of sensitive military information. The US is now India's second-biggest arms supplier.

India therefore could expect to gain a sympathetic ear if it seeks a waiver from the US sanctions, but President Donald Trump's administration has signalled this is unlikely.

Iranian Crude Oil

Russia and India have been close since the 1950s and Moscow remains its biggest source of weaponry as it prepares itself for perceived potential threats from China and Pakistan.

India has also been irked by Trump's decision to exit from the 2015 nuclear deal between major powers and Iran, a major supplier of oil to the fast-growing Indian economy.

Meanwhile Indo-Russian annual trade has slipped below $10 bn since 2014, as Modi cultivated closer diplomatic and economic ties with Washington, while Russia has courted Pakistan and China.

The president of state-run Russian bank VTB, Andrei Kostin, said in Delhi on Friday that the two countries aimed to triple the two-way flow of goods and services to $30 bn.

"We have a strategic partnership and a very harmonious dialogue at the political level," Kostin told reporters.

"But we have to complete this with the strengthening of economic ties."

Agence France-Presse

More For You

enforcement directorate

The Enforcement Directorate searches were conducted at locations linked to the Gupta brothers, Piyoosh Goyal of World Window Group, and entities such as Sahara Computers and ITJ Retails Pvt Ltd.

Getty Images

India agency acts on South Africa request in Gupta brothers probe

INDIA's financial crime fighting agency, the Enforcement Directorate (ED) on Tuesday carried out searches at locations connected to the Gupta brothers of South Africa and their associates in a money laundering case.

The action followed a Mutual Legal Assistance Request (MLAR) received by India from South Africa in connection with the "state capture scam," reported PTI quoting sources.

Keep ReadingShow less
Trump and Modi

Donald Trump speaks with the press as he meets with Narendra Modi in the Oval Office of the White House on February 13, 2025. (Photo: Getty Images)

Getty Images

Trump’s doubling of tariffs on Indian imports takes effect

Highlights

  • US tariffs on Indian imports rise to as much as 50 per cent
  • Nearly 55 per cent of India’s $87bn exports to US could be affected
  • Exporters warn of job losses and call for loan moratoriums
  • India says support measures will be offered to affected exporters

US PRESIDENT Donald Trump’s doubling of tariffs on Indian imports took effect on Wednesday, raising duties on some shipments to as much as 50 per cent. The move escalates trade tensions between India and the United States.

Keep ReadingShow less
Surat-diamond-Reuters

Craftsmen work on diamonds at a diamond processing unit in Surat, India, August 15, 2025. (Photo credit: Getty Images)

Getty Images

Tariff surge threatens one-third of India’s diamond exports

THE SURAT Diamond Bourse, billed as the world's largest office complex and bigger than the Pentagon, remains largely empty with only a few traders working.

Business has slowed, and the outlook is uncertain.

Keep ReadingShow less
Earn $7k/day through mining contracts by Bitcoin (BTC) plummets, BTC holders

Earn $7k/day through mining contracts by Bitcoin (BTC) plummets, BTC holders

Bitcoin whale dumped 24,000 BTC, triggering a flash crash that sent the price plummeting by $110,000. This depressed market sentiment, led to the liquidation of numerous leveraged long positions, and intensified short-term selling pressure.

At the same time, GoldenMining launched a new Bitcoin mining contract to mitigate the risk of Bitcoin's price decline and help Bitcoin holders earn daily returns.

Keep ReadingShow less
From office workers to freelancers, users around the world use GoldenMining to earn $2,500 a day

From office workers to freelancers, users around the world use GoldenMining to earn $2,500 a day

Have you ever thought about making money from cryptocurrency without any technical knowledge, equipment, or time commitment? It's not about speculation or scalping, but rather a more stable and simple method: cloud mining.

The GoldenMining platform is designed specifically for everyday users like you. You don't need professional background, mining equipment, or even a server. With just a mobile phone or computer and a small investment, you can automatically participate in mining mainstream cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE), and Litecoin (LTC), with daily profits automatically deposited into your account.

Keep ReadingShow less