Davina Gupta
๐ค SpeakerAppearances Over Time
Podcast Appearances
We just heard how Mr. Putin said that he wants those fuel shipments to continue to come to India.
because India has been buying almost 40% of its overall oil needs from Russia.
So essentially sending billions of dollars to Russia through that trade.
They're also firming up long-term supply deals for fertilizers or liquefied natural gas.
And then there was also discussion about people-to-people movement, India easing visa rules.
for Russians to come to India and also Russia asking for the skilled labor force like engineers and doctors to come to Russia to fill a labor shortage gap that the country is witnessing.
We also saw some agreements at the business forum that I attended on education, agriculture and even natural mineral sites.
So that's something that both countries are focusing on when it comes to trade.
Well, that's the part that Delhi is finding harder to explain, because India's purchases of Russian crude have been a financial lifeline for Moscow.
But it is because India is one of the biggest buyers for that.
The West has been arguing that that money ultimately supports Russia's war economy, while India says it's acting in its own national interest.
It wants to keep energy affordable for its billion-plus population.
And it has been seeing that tension rising with its other trade partner, the U.S., which has slapped a 50 percent tariff, mainly due to its purchases of Russian crude, which continues.
There has been some reduction in
these purchases because the U.S.
has sanctioned Russian oil refineries.
But from today's press conference, it's clear that Mr. Putin wants that fuel supply to continue to India, and that will be a contentious issue.
For Mr. Modi, it's a balancing act.
On one hand, the Russia relationship is a longstanding one.
India calls Russia its old ally from the Soviet era.