Russian President Vladimir Putin has confirmed that he is “looking forward” to visiting India in early December, where he will meet with Prime Minister Narendra Modi for high-level talks. Speaking at the Valdai Discussion Club in Sochi on October 2, Putin emphasized the importance of the trip, calling Modi a “dear friend” and a “trustworthy partner.” Beyond the personal rapport between the two leaders, the upcoming visit is expected to focus heavily on economic issues, most notably the growing trade imbalance between the two nations, as well as broader strategic cooperation.

Russia and India have enjoyed a surge in trade since the outbreak of the Ukraine conflict and the subsequent Western sanctions on Moscow. India, seeking affordable energy to power its rapidly growing economy, has emerged as one of the largest buyers of discounted Russian crude oil. According to official figures, India’s imports from Russia currently stand at around $64 billion, while its exports to Russia remain just over $5 billion. This disparity underscores a widening imbalance that Moscow is eager to address.

Putin was candid in acknowledging the issue. “We have a trade imbalance with India. We are aware of it. We recognize it and together with our Indian friends and partners, we are thinking of ways to perfect this trade turnover,” he said. For Russia, which faces increasing dependence on Asian markets due to Western restrictions, the imbalance is both a challenge and an opportunity. For India, the gap highlights the need to diversify exports and secure better access to Russian markets.

Putin outlined several areas where Russia could increase imports from India to correct the imbalance. These include agricultural........

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