New Delhi. As Vladimir Putin arrives in India for the 23rd India-Russia Annual Summit, he is not traveling alone. He brings with him what many are calling a “power- delegation” a carefully curated entourage of Russian state oligarchs, top business leaders and defence-industry chiefs whose presence signals Moscow’s intent to push for deeper energy and arms cooperation with India.
In the limelight among his entourage is Igor Sechin, the long-time chief of the state oil giant Rosneft. Sechin is widely acknowledged as one of Putin’s closest allies, a veteran “siloviki” figure who once served as Deputy Prime Minister and is now overseeing Russia’s oil strategy at a critical moment.
Alongside Sechin, influential figures from Russia’s banking and financial sector are also part of the delegation. Andrei Kostin, CEO of the state-controlled bank VTB Bank, represents Moscow’s financial interests, especially efforts to build alternative payment and trade-settlement channels outside the Western-dominated SWIFT network, a mechanism that could greatly ease rupee-rouble trade flows between India and Russia.
Another key player is the head of Russia’s largest bank, ‘Sberbank’ with its India operations led by the CEO Ivan Nosov. Russia appears keen to use Indian capital and rupee-based deals to fund long-term cooperation, especially in sectors such as infrastructure and energy.
Defence industry heavyweights are also travelling with Putin. The delegation reportedly includes the leadership of the state arms exporter ‘Rosoboronexport’ and senior defence cooperation officials who may discuss new contracts, possibly including additional orders of advanced air-defense systems and missiles.
Noteworthy Delegation
Unlike earlier visits where state officials alone dominated, this trip marks one of the most overt showcases of Russia’s “oligarch-plus” model, where top business tycoons and state-firm heads travel alongside political leadership. Experts say this signals Russia’s desire to treat India as not just a geopolitical partner but as a hub for long-term economic collaboration, beyond the constraints imposed by Western sanctions.
Other crucial business community members include, Russian Association of Fertilizer Producers, heads of industrial group Basic Element and Russian aluminium company Rusal (both founded by Oleg Deripaska), Roskhim, rail transport company Transmashholding Kirill Lipa, CEO of the Science-and-Production Centre Mineral Coating Technologies LLC, Stanislav Kislov.
Given these dynamics, Putin’s visit is likely to be remembered less for diplomatic pageantry and more for the realignment it attempts multi-sector economic-strategic partnership.