Russia foremost partner in civil nuclear energy, our annual trade to reach $100 billion by 2030: S Jaishankar

The Kudankulam nuclear project is a major example of India’s longstanding partnership with Russia, External Affairs Minister S Jaishankar has said. Speaking at the ‘India and Russia: Towards a New Bilateral Agenda’ conference, he said that the two countries aim to increase annual trade from $68.7 billion to $100 billion by 2030.

“Russia is our foremost partner in civil nuclear energy, and the Kudankulam nuclear project is a stellar example,” Jaishakar said on Monday. The Kudankulam Nuclear Power Plant in Tamil Nadu is the largest nuclear power station in India. It is built in collaboration between the Nuclear Power Corporation of India Limited (NPCIL) and Russia’s state nuclear company, Rosatom.

#WATCH | External Affairs Minister Dr S Jaishankar addresses ‘India and Russia : Towards a new bilateral agenda’ conference via video conferencing

EAM says,” Russia is our foremost partner in civil nuclear energy, and the Kudankulam nuclear project is a stellar example. As India… pic.twitter.com/J43DZTPDzQ

— ANI (@ANI) March 23, 2026

“As India aims to increase its nuclear energy generation capacity to 100 gigawatt by 2047, I am confident that it will find a trusted and reliable partner in Russia for the peaceful uses of nuclear energy,” he added.

With India chairing BRICS this year, Jaishankar spoke on the need for countries to work together. He said India will focus on a ‘humanity first’ and people‑centered approach and work with Russia to address common challenges through BRICS, SCO, G20, and the UN.

Jaishankar said that the two countries have a strong and trusted strategic partnership built on mutual respect. Over many years, their cooperation has contributed to peace, stability, and progress both regionally and globally.

“In today’s evolving geopolitical dynamics, our engagement continues to deepen, driven by frequent high-level exchanges,” he said.

“The last visit of President [Vladimir] Putin to India in December 2025 broke new ground covering diverse and novel areas.”

He also mentioned the close connections between the people of India and Russia, including shared interests in art, Yoga, Ayurveda, and culture. He said that new consulates in Kazan and Ekaterinburg would help boost economic, cultural, and social ties.

Russia continues to be a critical partner for India, especially in energy. Amid geopolitical tensions from the US-Israel war on Iran, India relies on Russia for oil supplies after US sanctions limited Iranian imports.

In March, the US allowed India a 30-day window to purchase oil from Russia.

Russian oil tankers are reportedly bound for Indian ports, and several shipments are expected this month. Indian refineries, including Nayara Energy, have been processing Russian oil, sometimes exclusively.