New delhi: Russian President Vladimir Putin began his first visit to India since 2021, with Prime Minister Narendra Modi emphasizing the "time-tested" ties between the two nations. The visit marks a significant occasion as both leaders are set to co-chair the 23rd annual India-Russia summit in New Delhi.

According to Anadolu Agency, the agenda for discussion includes defense, energy, nuclear cooperation, payment mechanisms, the BRICS bloc, and the Shanghai Cooperation Organization. Prime Minister Modi expressed his enthusiasm on the US social media platform X, welcoming Putin to India and highlighting the benefits of the India-Russia friendship for their people.

After an official welcome, Modi and Putin proceeded to a private dinner at the Indian prime minister's official residence. This visit is particularly notable as it is Putin's first since the onset of the Ukraine conflict in February 2022. Amidst increasing pressure from the US on New Delhi to reduce its purchases of Russian oil, Washington has imposed a 50% tariff on Indian imports.

The summit will also feature Putin and Modi addressing a business forum, focusing on boosting the bilateral trade volume from its current $68.7 billion to a targeted $100 billion. Putin is accompanied by a substantial delegation of businesspeople, signaling potential economic collaborations.

A source from the Indian government informed Anadolu that this visit is expected to enhance economic cooperation significantly. India aims to address the trade deficit with Russia by exploring various avenues to increase exports, specifically in pharmaceuticals, automobiles, and agricultural products.

The two countries are also anticipated to sign several agreements and memorandums of understanding in sectors such as shipping, healthcare, fertilizers, and connectivity. Before his departure late Friday, Putin will attend a presidential dinner hosted by his Indian counterpart, Droupadi Murmu.