New Delhi: Russian President Vladimir Putin and Indian Prime Minister Narendra Modi will meet in Uzbekistan on Friday on the sidelines of the Shanghai Cooperation Organisation (SCO) summit and discuss trade as well as sales of Russian fertilisers and mutual food supplies, the Kremlin said on Tuesday.

According to the Russian news agency TASS, Putin will discuss Russian-Indian cooperation within the UN and G20 with Modi. Russian Presidential Aide Yuri Ushakov told reporters Tuesday, "A conversation on international agenda with Modi will also take place, the sides will discuss issues of strategic stability, the situation in the Asia Pacific Region, and, of course, cooperation within major multilateral formats, such as the UN, the G20 and the SCO."

"This is particularly important, because India will preside in the UN Security Council in December, and, in 2023, India will lead the SCO and will also chair the G20," he added.

"There are plans to discuss issues of 'saturation' of the Indian market with Russian fertilisers and bilateral food supplies," the Kremlin said in a handout of materials for the meeting.

"First of all, moves, aimed at boosting bilateral trade flows, will be looked at. The trade turnover reached $11.5 billion in the first half of 2022, up almost 120% year-on-year," the Kremlin said.

India's fertiliser imports from Russia rose to $1.03 billion in April-July compared to $773.54 million in the whole of the last fiscal year to March 31, 2022, according to the Indian commerce ministry's website. India is looking for a three-year fertiliser import deal with Russia.

Attempts to sign a long-term fertiliser import deal earlier this year were hit by the challenging geopolitical situation after Russia launched an invasion – Moscow describes it as a "special military operation" – of Ukraine on February 24.

On September 7, Prime Minister Modi had also called for the strengthening of ties between India and Russia. Speaking at an online plenary session address to the Eastern Economic Forum, Modi said Russia can become an important partner for the Indian steel industry through the supply of coking coal and that there was scope for good cooperation in the mobility of talent.

“Indian talent has contributed to the development of many developed regions of the world. I believe that the talent and professionalism of Indians can bring about rapid development in the Russian Far East,” he added.

Putin will also meet Chinese President Xi Jinping on the sidelines of the summit in Uzbekistan's ancient Silk Road city of Samarkand.

It is unclear yet if Xi and Modi will also meet. If they do, it will be the first time since November 2019. Last week, the Indian and Chinese armies reached an agreement to disengage at the Gogra-Hotspring patrolling point 15 (PP-15) along the disputed Line of Actual Control in Ladakh. The two armies have been engaged in a standoff for more than two years at several border areas. An agreement to disengage is yet to be reached at one flashpoint.

India and China are key buyers of Russian energy, helping to cushion Moscow from the effects of Western sanctions and allowing the two Asian economies to secure raw materials at discounts compared to supplies from other countries.

The two Asian nations have not publicly criticised Moscow's actions in Ukraine, despite the outcry in the West.

India, which rarely used to buy Russian oil, has emerged as Moscow's second-biggest oil customer after China.

Refiners in India, the world's third-biggest oil importer and consumer, have been snapping up discounted Russian oil, shunned by some western countries and companies.

The Group of Seven countries is working to cap the price of Russian oil from December 5 in an attempt to cut the price Russia receives for oil without reducing its petroleum exports to world markets.

So far, India and China have not said if they will join the price cap mechanism.

Oil minister Hardeep Singh Puri last week said India would examine the issue when more details are available. He also said many conversations and proposals were taking place and "we will see who is participating" in the price cap mechanism.

(With Reuters inputs)

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