India-Russia Relations

Context (TH): The recent visit of the External Affairs Minister to Russia points towards strong ties of India-Russia.

India-Russia Relations: Convergences

India-Russia trade hit a record of about $40 billion in 2022–23. Both countries aim to increase bilateral investment to US$50 billion and bilateral trade to US$30 billion by 2025.
Strategic Economic Dialogue: Agreement to jointly invest resources in projects in the Far Eastern region of the Russian Federation. India has provided a $1 billion line of credit.

Collaboration on Projects such as the Chennai – Vladivostok Maritime Corridor, International North-South Corridor (INSTC) etc.

Both countries are partnering in space exploration through the Gaganyaan program.

Russia has supported India’s bid for a permanent seat in the UNSC and entry into the Nuclear Supplier Group.
Inclusive Indo-Pacific regional strategy: Consultations on “integration and development initiatives in the greater Eurasian space and in the regions of the Indian and Pacific Oceans” denotes emerging strategic convergence between India and Russia.
Track-II dialogue on India-Japan-Russia Trilateral Cooperation in the Russian Far East.

10 Year Defence Pact signed for military technology cooperation for the next decade (2021-2031).
About 70% of India’s defence forces are equipped with Russian weapons, including S-400 Missiles.
Cooperation in the manufacture of the “Brahmos” missile system, AK-203 assault rifles, SU-30 aircraft and T-90 tanks.
Military Exercise: Indra.

Nuclear energy: New reactors being constructed by Russia at Kudankulam as a “flagship joint project”.

Approx. 4,500 Indian students are currently enrolled in medical and technical institutions in the Russian Federation.
Hindustani Samaj: The oldest Indian organization in Russia, functioning since 1957.
Programmes like ‘Namaste Russia’ promote educational collaboration between India and Russia, facilitated through institutes like Jawaharlal Nehru Cultural Centre.

Small and stagnant trade volumes: India-Russia trade ($10 billion) and connectivity considerably lag behind those between China and Russia ($110 billion) and between India & US ($120 billion).
Growing India-US proximity: Russia is apprehensive of India strengthening ties with its partners in the Quad, and deepening defence cooperation with the US, pushing Russia into China’s orbit.
Russia’s growing alignment with China in the form of defence agreements, energy projects (cross-border gas pipeline between China & Russia’s Far East), endorsement of the Belt & Road initiative, etc.
Chinese Factor: Since 2015, China has accounted for 85% of foreign investment in the Russian Far East. China is also the top trading partner of the Russia-steered Eurasian Economic Union.
Growing Russian cooperation with Pakistan. E.g. Russia conducted a military exercise with Pakistan.
Connectivity challenges: INSTC projects were delayed due to unilateral sanctions by the US on Iran and Russia.

Diversify collaborations and deepen their relations to mutual benefit, including Chabahar, the Arctic, Chennai-Vladivostok Eastern Maritime Corridor, manufacture of Sputnik V in India, etc.
Cooperate at the multilateral level, such as on regional and global issues in multilateral bodies including UNSC, SCO, G-20, BRICS, ASEAN-led fora and others.
Exploring policy convergence involving strategic coordination between Russia’s concept of Greater Eurasia and India’s espousal of an inclusive Indo-Pacific framework.
Promoting trilateral cooperation between Russia, China, and India (RIC) to reduce mistrust between India and China.
Ensuring regional security: India and Russia should work together to achieve stability and security in the region especially in Afghanistan through an Afghan-led and Afghan-owned peace process.
Re-establishing the Rupee-Rouble Payment Mechanism to facilitate trade in local currencies, bypass US sanctions, and enhance competitiveness.