The informal summit is significant given the upcoming U.S. sanctions not just against Russian Federation under the Countering America's Adversaries Through Sanctions Act, but also Iran following President Donald Trump's withdrawal from the nuclear accord with Tehran.
In a surprise announcement, MEA said this afternoon it would be "an important occasion for the two leaders to exchange views on worldwide matters in a broad and long-term perspective". The two leaders would also discuss their respective national developmental priorities and bilateral matters, the ministry added.
Analysts view the upcoming visit of Indian Prime Minister Narendra Modi to Russian Federation soon after concluding an informal meet with the Chinese President, as an indication of world powers teaming up against the United States following President Trump's gradual undoing of global commitments made by his predecessor.
The summit will take place days after Putin was sworn in as President for a fourth term in office. During that meeting PM Modi praised Putin.More news: Kaspersky Lab to Open Swiss Datacenter in Bid to Rebuild Trust
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The informal summit will be held in Russian city of Sochi. Russian Federation is the only country - apart from Japan - which has an "annual summit" mechanism with India. With Russia still being a major defence supplier, a recent USA law could impose sanctions on India if it goes ahead with significant purchases from Russia, for example the S-400 Triumf air defense system.
Informal summits are in - or so it would seem. "Instead, the focus" will be on discussions on the "big picture" globally, according to observers.
This is unedited, unformatted feed from the Press Trust of India wire.
Raghavan felt that the ongoing developments around the world required both countries to "affirm a mutual commitment" beyond the confines of a formal summit.
Russia's exports to India reached $6.5 bln, while its imports from India were worth $2.9 bln. The withdrawal of USA from the worldwide nuclear deal with Iran and the impending summit of President Donald Trump with North Korea's Kim Jong-un has introduced more variables with uncertain outcome. This could affect the S-400 missile defence system deal which is said to be at an advanced stage of negotiations.