"Don't worry, be happy", Putin quipped in the presence of Prime Minister Modi at the Plenary Session of St. Petersburg International Economic Forum 2017 in Russian Federation.
"We need to think what to do further, this agreement...is due to come into force in 2021", he said.
During his Russian Federation visit, Modi and Putin held a summit, and signed several agreements including a critical one to build two more reactors of a nuclear plant in Tamil Nadu with Russia's help.
During the wide ranging press conference in St. Petersburg, Mr Putin also discussed allegations of Russian interference in the 2016 U.S. election, and his view that Russia and the North Atlantic Treaty Organisation military alliance need to cooperate to fight terrorism.
Russian President Vladimir Putin said on Friday he believed there was still time to get a global climate change deal done despite U.S. President Donald Trump saying he was pulling his country out of a landmark pact.
As for allegations that the Russian government meddled in the 2016 election to damage Democrat Hillary Clinton and prop up the candidate who once extolled sympathetic views on Nato, Mr Putin said the allegations contain only assumptions, nothing concrete.
Commenting on Trump's decision to pull the United States out of the Paris climate accord, Putin refrained from criticising the move and called for a constructive dialogue on efforts needed to curb global warming.
US intelligence agencies have accused Russian Federation of hacking into Democratic Party emails, helping Donald Trump's election victory, and the congressional and FBI investigations into the Trump campaign's ties with Russian Federation have broken the Kremlin's hopes for a detente with Washington.
The Russian government has denied USA intelligence agencies' conclusion that it sought to influence the election in Trump's favor, but Russian President Vladimir Putin said on Thursday that some Russian individuals may have acted on their own.
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In a sign of exasperation, Putin compared what he described as the obsessive United States focus on alleged Russian interference with the vote to anti-Semitism.
President Putin noted that USA was Russia's key trade partner during the emerging Soviet state and the American business actively helped the industrialization.
Russian President Vladimir Putin denied Friday that his government had anything to do with hacking operations aimed at disrupting the USA election past year.
Putin also sounded off Friday about US scrutiny of meetings between Trump's team and Russia's ambassador to the United States.
On the cultural side, the Prime Minister said the deep awareness of Russian culture in India, and of Yoga and Ayurveda in Russia, was a matter of deep satisfaction.
"Trying to spy on your allies, if you really consider them allies and not vassals, is just indecent", said Putin.
Earlier, addressing the event, the prime minister said, "India is a responsible nation with regard to climate change.We can milk the nature".
"[Internet protocol] addresses can be invented - a child can do that", he told NBC News correspondent Megyn Kelly, who asked Putin about the USA intelligence community's assessment that he gave at least tacit approval for the hacks.