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Jaishankar Visits Azerbaijan to Reset Ties, Expand Trade

By Drooid · Oct 25, 2026, 10:30 AM UTC · How we work

Summary

Story summary

External Affairs Minister S. Jaishankar visited Azerbaijan on October 23, 2026 to reset bilateral ties.
Jaishankar met President Ilham Aliyev and Foreign Minister Jeyhun Bayramov to discuss trade, investment and energy.
Sides agreed to deepen political consultations, exchange trade delegations and expand economic activities, including the International North-South Transport Corridor.
Trade between India and Azerbaijan reached about $600 million in the first half of 2026.
ONGC Videsh invested over $1.2 billion in Azerbaijan’s Azeri-Chirag-Gunashli oilfield.

History

Historical Context

In 1994 Azerbaijan signed a 30-year production-sharing agreement for the Azeri-Chirag-Gunashli (ACG) offshore complex, later expanded to include India’s ONGC Videsh as a co-venturer. The field’s production averaged about 330,000 barrels per day in 2025 and is adding non-associated gas output in 2026. Indian External Affairs Minister S. Jaishankar’s October 23, 2026 visit to Baku builds on that long-standing energy partnership.

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Story summary

External Affairs Minister S. Jaishankar visited Azerbaijan on October 23, 2026 to reset bilateral ties.
Jaishankar met President Ilham Aliyev and Foreign Minister Jeyhun Bayramov to discuss trade, investment and energy.
Sides agreed to deepen political consultations, exchange trade delegations and expand economic activities, including the International North-South Transport Corridor.
Trade between India and Azerbaijan reached about $600 million in the first half of 2026.
ONGC Videsh invested over $1.2 billion in Azerbaijan’s Azeri-Chirag-Gunashli oilfield.

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