New Delhi, Dec 5 (PTI) India and Russia on Friday firmed up a five-year plan to bolster economic and trade partnership in the face of Washington's punitive tariff and sanctions regime even as Prime Minister Narendra Modi conveyed to President Vladimir Putin that the war in Ukraine must be brought to an end through dialogue.

Following their summit talks, Modi and Putin unitedly demonstrated their keenness to impart a fresh momentum to the trajectory of the over eight-decades-old partnership between the two nations.

Besides finalising the 2030 economic programme, the two sides signed several agreements to expand cooperation in a number of sectors including health, mobility and people-to-people exchange.

"Over the past eight decades, the world has witnessed numerous ups and downs. Humanity has had to pass through many challenges and crises. And amidst all this, the India-Russia friendship has remained steadfast like a pole star," Modi said in his media statement.

The prime minister, referring to the economic roadmap, said taking the India-Russia economic partnership to new heights is now a common priority for both sides. Modi also said that India and Russia are working towards early conclusion of a free trade agreement with Eurasian Economic Union.

The Ukraine conflict also figured prominently in the talks with Modi saying that India has advocated for peace in that country.

"We welcome all efforts being made for a peaceful and lasting resolution of this matter. India has always been ready to contribute its part and will remain so in the future," he said.

On threat of terrorism, Modi said India and Russia have long been standing shoulder-to-shoulder in the fight against the menace.

"Whether it is the terrorist attack in Pahalgam or the cowardly assault on the Crocus City Hall -” the root of all these incidents is the same," he said.

"India's unwavering belief is that terrorism is a direct assault on the values of humanity and that global unity against it is our greatest strength," he added.

Modi said India-Russia cooperation in the critical minerals sector is crucial for ensuring secure and diversified supply chains across the entire world.

In his remarks, Putin said the two sides resolved to prioritise cooperation in areas of security, economy, trade and culture.

We are looking at increasing annual bilateral trade volume to USD 100 billion, he said.

Putin said Russia is also looking at expanding cooperation in the energy sector with New Delhi, adding his country is ready for uninterrupted shipments of fuel to India.

We could also talk about cooperation in construction of small modular nuclear reactors and floating nuclear power plants, he said.

Russia, India and other like-minded nations are working towards a just and multipolar world. PTI MPB ZMN

India-Russia economic partnership advances with five-year plan, FTA talks, $100bn trade target and expanded energy cooperation. India and Russia agreed a five-year plan and finalised a 2030 economic programme to deepen economic and trade ties, pursue a free trade agreement with the Eurasian Economic Union, and target USD 100 billion annual bilateral trade; the programme expands cooperation in energy-including fuel shipments and potential small modular reactor and floating nuclear projects-critical minerals for diversified supply chains, health, mobility, and security including counterterrorism collaboration.