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New Delhi, December 4, 2025 — Russian President Vladimir Putin’s arrival in New Delhi today for the 23rd India-Russia Annual Summit has been less of a grand public spectacle and more of a tightly choreographed, high-stakes diplomatic dance, setting the stage for what promises to be one of the most consequential bilateral meetings of the year.
The day’s main event was not a ceremonial welcome, but a private, working dinner hosted by Prime Minister Narendra Modi, a gesture emphasizing the deep personal rapport between the two leaders and signaling a shared commitment to insulating their “Special and Privileged Strategic Partnership” from mounting global pressures.
The ‘Dinner Table Diplomacy’
President Putin arrived in the early evening, heading straight for the intimate meeting with PM Modi. The private dinner, reciprocated after a similar one hosted by Putin in Moscow last year, is strategically designed to bypass formal constraints and allow for candid, one-on-one dialogue.
Sources suggest the menu for the evening may have included a side of delicate diplomatic tightropes. While the official summit tomorrow will focus on concrete agreements, tonight’s conversation is expected to have served as the unofficial kick-off, focusing on the thorniest issues: the path to securing five additional squadrons of S-400 air defence systems for India, and strategies to stabilize their burgeoning trade relationship, which has seen the balance swing sharply in Russia’s favour due to massive Indian oil imports.
Defense and Diversification
The shadow of global sanctions hangs heavy over the defense agenda. With approximately 60% of India’s military hardware still of Russian origin, the summit is critical for resolving delays in spares, maintenance, and the continued delivery of key platforms like the S-400. Russia has signaled its commitment by swiftly ratifying the crucial Reciprocal Exchange of Logistic Support (RELOS) agreement just ahead of the visit, a pact that will ease military logistics, port calls, and joint exercises, underscoring Moscow’s intent to reinforce its defense ties despite Western scrutiny.
Beyond Oil: The Rupee-Rouble Riddle
The bilateral trade volume hit a record $68.7 billion in 2024-25, primarily fueled by discounted Russian oil.
However, this has created a major imbalance, with India’s exports to Russia languishing at under $5 billion. The leaders are expected to use the summit to finalize a breakthrough plan:
- Trade Isolation: Expediting a proposed pact to link India’s RuPay payment network with Russia’s Mir system to facilitate seamless rupee-rouble settlements, effectively insulating bilateral trade from the US Dollar.
- New Corridors: Boosting Indian exports of pharmaceuticals, apparel, and agricultural goods, potentially through the emerging Eastern Maritime Corridor linking Chennai and Vladivostok.
- The Future Focus: Exploring cooperation in non-traditional areas like Small Modular Reactors (SMRs) for clean energy, and a significant new labour mobility agreement to open doors for Indian skilled workers in Russia.
The two-day visit is a masterclass in New Delhi’s “multi-alignment” foreign policy—strengthening a foundational strategic bond with Moscow while simultaneously managing partnerships with Washington and European capitals that are watching the proceedings with palpable anxiety.
President Putin will receive a ceremonial welcome tomorrow before the formal 23rd Annual Summit talks at Hyderabad House. However, tonight’s quiet dinner has already set the table for a complex negotiation where long-standing friendship will be tested by the urgency of a changing world order.
