World Business Report Putin in India
Dec 4, 2025
Sushma Ramachandran, an independent journalist based in Delhi, shares insights on Vladimir Putin's visit to India and the critical discussions around trade and defense. She highlights how discounted Russian oil is revitalizing bilateral relations as India seeks alternatives to high US tariffs affecting exports. The conversation also touches on how these geopolitical dynamics shape India's strategy moving forward. Plus, there's an intriguing mention of legal challenges faced by Novo Nordisk in India regarding its diabetes drug.
AI Snips
Chapters
Transcript
Episode notes
India Strengthens Strategic Trade With Russia
- India has deepened trade and defence ties with Russia, driven largely by discounted Russian oil since the Ukraine war.
- Russia offers to buy more Indian goods and invest rupee balances into Indian infrastructure and manufacturing.
Local Support For Defence Cooperation
- A Delhi resident, Sanjay Kumar, publicly supported closer ties with Russia for security and defence collaboration.
- He said Russia had helped India at times and that defence technology transfers would be welcome.
US Tariffs Drive India Toward New Markets
- US tariffs on India have pushed New Delhi to diversify markets and deepen ties with Russia.
- Russia sees opportunistic gains and has offered to import a wider range of Indian products to rebalance trade.