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Russia Today
07-07-2025
- Business
- Russia Today
Partnership with Russia ‘resilient and steadfast'- Indian finance minister
New Delhi's strategic partnership with Moscow remains 'resilient and steadfast,' Indian Finance Minister Nirmala Sitharaman said on Sunday. The minister's comments came after a meeting with her Russian counterpart, Anton Siluanov on the sidelines of the BRICS summit in Rio de Janeiro. 'The Union Finance Minister observed that India and Russia enjoy exemplary levels of mutual trust and understanding and our Special and Privileged Strategic Partnership remains resilient and steadfast,' the Indian Finance Ministry said in a post on X. During the talks with Siluanov in Rio, Sitharaman also expressed gratitude for the support extended by Russian President Vladimir Putin to India after the April terror attack in the Indian Union Territory of Jammu and Kashmir that claimed 26 lives. Sitharaman also congratulated Russia for its successful chairmanship of BRICS in 2024 and said that India would continue to leverage the multilateral platform to build South-South cooperation in areas of common interest. The finance ministers discussed modalities of various initiatives recently taken up by BRICS members, Sitharaman said in her post on X. Union Minister of Finance and Corporate Affairs Smt. @nsitharaman met H.E. Mr. Anton Siluanov, Finance Minister of Russia, on the sidelines of the BRICS Finance Ministers and Central Bank Governors meeting #BRICSFMCBG, in Rio de Janeiro, two leaders discussed… The two sides also reviewed cooperation in the financial sector, along with matters related to the New Development Bank (NDB). The NDB was founded by BRICS in 2015 to address the needs of developing countries that, according to its members, are not equally represented in the international financial architecture. The Rio BRICS summit concluded with a joint declaration that criticized unilateral tariff actions and condemned 'indiscriminate' trade measures, without directly mentioning the United States. A few hours later, US President Donald Trump threatened to impose an additional 10% tariff on any country which 'aligns itself' with BRICS, accusing the grouping of adopting 'anti-American policies.' New Delhi's long-standing ties with Moscow have irked Washington. In June, US Secretary of Commerce Howard Lutnick said India's relations with Russia are a point of contention in its relationship with the US.
Russia Today
26-06-2025
- Business
- Russia Today
India is an ‘exceptionally important' partner
Russian Defense Minister Andrey Belousov has stressed the importance of the Russia-India partnership, noting that Moscow's long-term friendship with New Delhi extends into the military-technical sector. Belousov held talks with his Indian counterpart, Rajnath Singh, on the sidelines of the Shanghai Cooperation Organization summit in Qingdao, China on Thursday. 'India is an exceptionally important strategic partner for us, a traditional friend – including in the military and military-technical spheres,' Belousov said at the meeting. Singh stated: 'We had insightful deliberations on boosting India-Russia defense ties.' India's military currently relies heavily on Russian-origin equipment, with around 60% of its arsenal being of Russian make. During the recent conflict with Pakistan, the effectiveness of India's air defenses was bolstered by the Russian-made S-400 mobile surface-to-air missile systems, which was recently highlighted by Indian Prime Minister Narendra Modi, who praised its performance during the standoff. New Delhi, however, has been pushing to indigenize its defense sector, under the 'Make in India' initiative led by Modi. Russian defense companies have taken part in a number of joint ventures in India over the last two decades. BrahMos supersonic cruise missiles are manufactured by India's Defense Research and Development Organization and Russia's NPO Mashinostroyeniya, and have been in service in the Indian Armed Forces since June 2007. Last month, India inaugurated a new production unit for the BrahMos missile in Uttar Pradesh. According to Defense Ministry officials, this facility will enable India to boost its defense stockpiles, which is crucial given the current volatile security environment. Happy to have met the Defence Minister of Russia, Andrey Belousov on the sidelines of SCO Defence Ministers' Meeting in Qingdao. We had insightful deliberations on boosting India-Russia defence ties. New Delhi's long-standing defense ties with Moscow have irked Washington. Earlier this month, US Secretary of Commerce Howard Lutnick said India's relations with Russia are a point of contention in its relationship with the US, especially with the increasing sanctions on Russian entities. During the meeting on Thursday with Singh in Qingdao, Belousov expressed his condolences over the recent crash of an Air India aircraft, which killed 270 people. The Russian defense minister conveyed words of sympathy and support to the families and loved ones of the victims.
