New Delhi: Russia’s Deputy PM Denis Manturov said that Moscow has promised to increase oil and gas exports to India. The Russian leader arrived in New Delhi for a two-day visit. He met NSA Ajit Doval, Finance Minister Nirmala Sitharaman and External Affairs Minister S Jaishankar before calling on PM Narendra Modi. A Russian readout of the visit stated that “by the end of 2025, Russia had increased supplies of in-demand mineral fertilizers to India by 40% and is ready to continue meeting India's needs for this product.
In addition, a joint project for carbamide production is under development. Particular attention was paid to cooperation in the oil and gas sector. Manturov confirmed that Russian companies have the capacity to steadily increase supplies of oil and liquefied natural gas to the Indian market.” It said the two sides were also increasing their ties in nuclear energy. “Russia and India continue to strengthen their partnership in nuclear energy.
In line with agreed schedules, the project to construct power units for the Kudankulam Nuclear Power Plant is being implemented. As emphasized by Manturov, Russia sees significant prospects for deepening engagement with India in this sphere.” The MEA readout did not mention the Russian talking points but stated that both sides had engaged in discussion on trade, fertilizers and connectivity, amongst other issues, namely the developments in West Asia.
Post his meeting with Manturov, Prime Minister Modi took to X and wrote. “Pleased to meet Russia’s First Deputy PM Denis Manturov. We discussed our mutually beneficial cooperation in trade, fertilizers, connectivity and people-to-people ties. Welcomed the sustained efforts from both sides to implement the outcomes of the 23rd India-Russian Annual Summit held during President Putin’s visit to India last December.” Statistics show that India’s buying of oil has increased by 45% in March rising from 1 million bpd in February to 1.5 million bpd in March. When it comes to natural gas, India buys next to nothing from Russia at the moment, which makes the Russian Deputy Prime Minister’s statement particularly significant.
So far, New Delhi has relied on Qatar, which has supplied close to 40-50% of India’s natural gas. Should India opt for Russian gas, that would mark a significant move away from the Gulf. Parallel to the talks, a high-level Russian delegation led by Russian Parliamentary Leader Vladimir Yakushev called on Lok Sabha Speaker Om Birla at Parliament House. Welcoming the delegation, Birla emphasised that the India-Russia parliamentary ties are poised to deepen through “renewed dialogue and cooperation.”
