India is a great power – Putin

Russian President Vladimir Putin has called India a “natural partner and ally for decades,” ranking the South Asian giant among the world’s leading countries and hailing its economic prowess and potential for further development.

Speaking at the plenary session of the Valdai Discussion Club on Thursday, he said, “India must definitely be included among the great powers. 1.5 billion people. The highest growth rates among major economies. An ancient culture and tremendous growth prospects.”

Putin also mentioned that there are other rapidly developing nations that will undoubtedly influence contemporary politics, global development, and the future of humanity.

India is currently the fifth-largest economy by nominal GDP and the third-largest by purchasing power parity, with expectation that it will become a nominal $10 trillion economy by 2030.

According to government data, the country’s GDP expanded by 8.2% in fiscal year 2023-24 and 7.2% in the prior fiscal year, solidifying India’s position as the world’s fastest-growing major economy.

Putin also praised New Delhi for seeking a way to resolve the conflict in Ukraine. “We treat the ideas of the Indian leadership, especially those of the prime minister, with great respect and gratitude. He expresses concerns about conflicts, including those related to Ukraine, and offers his ideas for resolution,” Putin said. “Certainly, this is within our purview, and we are undoubtedly grateful to the prime minister for his attention to these issues, as well as for his proposals and actions in this regard.”

India has not joined US-led sanctions against Russia and has maintained strong diplomatic and trade ties, despite constant scrutiny from the West. Modi has argued that a resolution to the crisis cannot be found “on the battlefield” but should be reached through “dialogue and diplomacy.”

In the past five months, he has met with both Putin and Ukrainian leader Vladimir Zelensky several times. Indian Foreign Minister S. Jaishankar has stated that while New Delhi has not proposed a specific “peace plan” or conditions for ending the fighting, it is actively engaged with both Moscow and Kiev – something that “not many countries or world leaders today do.”

Meanwhile, India has been among the most fervent advocates for reforming global governance institutions, including the UN Security Council, to make them more effective, inclusive, and representative of emerging economies and underdeveloped nations. Last month, Jaishankar compared the UN to “an old company” that is not keeping up with the market but still “occupying space.” He argued that the UN is unable to respond to the world’s most pressing challenges, including pandemics and military conflicts.