Russian President Vladimir Putin said he expects to meet Prime Minister Narendra Modi at the Shanghai Cooperation Organization (SCO) summit in Kyrgyzstan next week, with another meeting likely before the end of the year.

Modi and Putin are expected to hold talks during the SCO leaders’ summit in Bishkek on 31 August and 1 September.

Putin is also expected to travel to New Delhi for the BRICS summit on 12 and 13 September.

“I hope to see him soon, as we planned, within the framework of the SCO very soon,” Putin told external affairs minister S. Jaishankar in Moscow on Monday, 24 August. “Our schedule is such that we will probably be able to meet again this year.”

Moscow, Russia: During a meeting with EAM S. Jaishankar, Russian President Vladimir Putin says, “At the beginning of our conversation, I would like to ask you to convey my very best wishes to Indian Prime Minister Narendra Modi. I hope to see him soon, as planned, within the… pic.twitter.com/A4doei83ht

— IANS (@ians_india) August 24, 2026

Two summits in less than two weeks

Jaishankar handed Putin a personal message from Modi and said the prime minister looked forward to meeting him at the SCO summit and welcoming him to India for BRICS.

Pleased to call on President Vladimir Putin of Russia in Moscow today. Handed over a personal message from Prime Minister @narendramodi.

Briefed him on the deliberation held under the 27th IRIGC-TEC, reviewing our cooperation across a wide range of domains. Value his guidance… pic.twitter.com/jAWTLqUrEp

— Dr. S. Jaishankar (@DrSJaishankar) August 24, 2026

The SCO has confirmed that its Council of Heads of State and SCO Plus summit will be held in Bishkek on 31 August and 1 September. India will host the BRICS summit in New Delhi on 12 and 13 September.

The two multilateral gatherings are separate from the India-Russia annual summit mechanism. Jaishankar told Putin that Modi also wanted the next annual summit to take place at a mutually convenient time, but neither government has announced a date.

The Kremlin meeting followed the 27th session of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation. Jaishankar co-chaired the talks with Russian first deputy prime minister Denis Manturov.

The commission reviewed cooperation in trade, investment, energy, fertilizers, nuclear power, connectivity, technology, space and skilled-worker mobility.

Trade growth leaves a $50 billion gap

Trade between India and Russia has expanded more than fourfold in five years, rising from about $13 billion in the fiscal year ended March 2022 to nearly $60 billion in FY26.

The increase has been driven largely by India’s purchases of Russian crude oil, coal, fertilizers and other commodities. India’s exports to Russia have grown much more slowly, leaving New Delhi with a trade deficit exceeding $50 billion.

“Addressing this imbalance is today one of our foremost priorities,” Jaishankar said at the commission meeting.

An Indian ministry of external affairs brief put bilateral trade at a record $68.7 billion in FY25 before it declined about 12.9% to $59.863 billion in FY26.

The two governments are seeking to raise trade to $100 billion by 2030. Jaishankar said that would require better market access, removal of tariff and non-tariff barriers, stronger payment mechanisms and greater contact between businesses in the two countries.

India and the Eurasian Economic Union are discussing a free trade agreement. The two sides are also working on the International North-South Transport Corridor, the Chennai-Vladivostok maritime route and other logistics links intended to lower trading costs.

Oil and fertilizers anchor the relationship

Russia has become one of India’s most important oil suppliers since its full-scale invasion of Ukraine in February 2022 led Western governments to impose sanctions and reshaped global energy trade.

India has defended its purchases as necessary for energy security and price stability. It has maintained economic and diplomatic relations with Moscow while also deepening ties with the US and Europe.

Putin told Jaishankar that Russia was increasing fertilizer shipments to India and was prepared to expand them further. He also identified energy, nuclear power and high technology as priorities.

The assurance has gained importance as the conflict in the Middle East disrupts energy and fertilizer markets. India imports substantial quantities of both and is seeking more dependable supplies.

Defense equipment, nuclear power and space cooperation remain important parts of the relationship, although trade has become far more prominent since India sharply increased its purchases of Russian energy.

Putin last visited India on 4 and 5 December 2025 for the 23rd India-Russia Annual Summit.

The two sides issued a joint statement covering trade, energy, defense, nuclear power, connectivity, mobility, health and technology. They also reaffirmed the $100 billion trade goal and backed work on the proposed India-Eurasian Economic Union trade agreement.

The next annual summit has not been scheduled. Jaishankar’s remarks indicate that both sides want to preserve the mechanism, but Putin’s comment about meeting Modi again this year most immediately points to the BRICS gathering in September rather than confirming a separate annual summit.