Prime Minister of India Shri Narendra Modi paid an official visit to the Russian Federation on July 8-9, 2024, for the 22nd Indo–Russia Annual Summit.

Prime Minister Shri Narendra Modi conferred Russia’s highest civilian honour the “Order of Saint Andrew the Apostle” .

Both  leaders agreed to set the bilateral trade target of USD 100 billion by 2030. Two-way trade between both countries is already at over $60 billion this year.

The two countries,during the Indo Russia Summit, also agreed on cooperation principles in the Arctic zone of the Russian Federation. The aim is  to enhance trade and joint investment projects between the Far East Region of Russia and India.

An MoU was signed on the issues of climate change and low-carbon development.

An MoU was also signed during the Indo Russia Summit on cooperation in research and logistics in polar region. It  aims at the facilitation of the settlement of civil law disputes of a commercial nature.

An MOU on cooperation and collaboration on broadcasting; for  “Scientific Centre for Expert Evaluation of Medicinal Products”.

A Joint Investment Promotion Framework Agreement was also signed . It will facilitate investment by Russian companies in the Indian market by promoting and fostering investment cooperation.

Both Sides agreed to continue working together to promote bilateral settlement system using national currencies.

Both countries expressed readiness to actively work to expand logistics links with an emphasis on increasing the capacity of infrastructure. The agreement includes implementation of the Chennai-Vladivostok (Eastern Maritime) Corridor and the International North-South Transport Corridor, as well as using the potential of the Northern Sea Route.

 LEARNING FROM HOME/WITHOUT CLASSES/ BASICS

History, mutual trust, and mutually beneficial cooperation base the relations between India and Russia. In 2000, during the visit of President Putin to India, the partnership acquired a new qualitative character, that of a Strategic Partnership.  

During  visit of the Russian President to India in December 2010, the Strategic Partnership was elevated to the level of a “Special and Privileged Strategic Partnership.”
2022 is special for both  as the countries mark the 75th anniversary of the establishment of diplomatic ties. Moscow and New Delhi established diplomatic relations on April 13, 1947. Relations between both countries encompass diverse fields including Defence, Space, Nuclear energy and economic covering Bilateral and Multilateral forums.

Both countries cooperate closely within the United Nations, BRICS and G-20 groupings, as well as in the various structures in the Asia Pacific region such as ASEAN and East Asia Summit Forum. Russia supported India’s membership to the SCO (The Shanghai Cooperation Organization) and India was admitted as a full member of SCO in 2017. 

India-Russia military-technical cooperation has evolved from a simple buyer-seller framework to one involving joint research, development and production of advanced defence technologies and systems. Both countries are cooperating in the manufacture of the “Brahmos” missile system and licensed production in India of SU-30 aircraft and T-90 tanks. They reportedly plan to jointly manufacture AK-203 rifles, involving full technology transfer; buying Russia’s S-400 missile system – providing India with a sophisticated anti-aircraft weapon – Joint design and developing of the Fifth Generation Fighter Aircraft.

Emergency aid of Sputnik V covid vaccine and manufacture of Sputnik V in India.

To promote smoother and greater movement of businessmen, both  signed a protocol in December 2015 to simplify visa procedures.

Framework agreement on cooperation in the peaceful uses of outer space, including satellite launches, GLONASS navigation, remote sensing and other societal applications of outer space. In June 2015, the space agencies signed an MoU on expansion of cooperation in the field of exploration. use of outer space for peaceful purposes. The completion of the Russian phase of training of the four astronauts for India’s first manned space mission.

Russia is an important partner in the peaceful use of nuclear energy.    It recognizes India as a country with advanced nuclear technology with an impeccable non-proliferation record.  It signed the Strategic Vision for strengthening cooperation in peaceful uses of atomic energy between India and Russia. Russian collaborated the construction of India’s Kudankulam Nuclear Power Plant (KKNPP). An agreement on localization in India of nuclear equipment concluded during the Annual Summit on 24 December 2015.

                                                 
IRRITANTS

Moscow sees the Quad and Indo-Pacific concept as hostile to the interests of Russia and China; Termed it Asian Nato

Russia has moved notably towards China since 2014 because of the pressure and sanctions of the West.  The US,  Crimea issues, NATO and the Ukraine war are the latest trigger. Its cooperation with Pakistan in defence, energy and security has also increased significantly. 

Both countries are far away from establishing a working settlement of Rupee-denominated trade . The utilisation of alternative currencies like the Dirham and Yuan brings exposure to other risks.  It cannot become a permanent solution.

WAY OUT

Both countries need to revive the economic agenda. It is currently heavily dependent on cooperation in defence and energy sectors.

also guides the proposed Chennai-Vladivostok Maritime Corridor, where apart from improving trade ties with the Russian Far East. It may, also, be useful to discuss reviving the cooperation between India, Iran and Russia on Afghanistan.