NEW DELHI (AP) — Russian President Vladimir Putin held talks with Indian Prime Minister Narendra Modi on Friday at an annual summit and agreed to diversify mutual economic ties, as the United States presses India to revise its decades-old partnership with Russia.

India gave Russia's leader a warm welcome in his first visit since his country invaded Ukraine. The visit in part signaled India's defiance of the U.S., which has punished New Delhi for buying Russian oil.

The six-member monetary policy committee voted unanimously to lower the repo rate to 5.25% and has now cut rates by a total of 125 basis points since February 2025. It held rates in August and October. The Indian economy is facing a "rare goldilocks" period, RBI Governor Sanjay Malhotra said in a video address.

Russian President Vladimir Putin is visiting India to strengthen economic and bilateral ties. Indian Prime Minister Narendra Modi welcomed him in New Delhi.

Prime Minister Narendra Modi positioned India as a powerhouse of self-confidence and hope in a world fraught with uncertainty

They say Indian economy is like the Elephant, it takes a while to get going but once it runs, it could be unstoppable. Despite external pressures, India's economy continues to demonstrate impressive resilience. In nominal terms, the country is projected to ...

India's economy grew at its fastest pace in 18 months in the July-September period, lifted by robust consumer spending and front-loading of production ahead of local festivals and punitive U.S. tariffs.

India’s unexpectedly strong economic growth last quarter has reduced chances of an interest rate cut at this week’s central bank’s policy meeting despite record-low inflation.

The PM noted that global growth is currently around 3%, while the G7 countries are growing at only about 1.5% on average.

“The term Hindu rate of growth was used when India was struggling for 2–3 per cent growth,” the PM said at the Hindustan Times Leadership Summit. “Our entire civilisation was given a tag of unproductivity and poverty using this term. No one found it communal back then.” What does the expression mean? Who coined it?

India's economy likely grew 7.3% in the July–September quarter, according to a Reuters poll of economists, underpinned by strong rural and government expenditure even as private capital spending remained subdued.

Putin's visit to India for the 23rd summit highlighted a new economic cooperation program aiming for $100 billion in trade by 2030. The partnership is set to enhance sectors like defense, energy, and manufacturing while addressing geopolitical challenges.